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ASTL appoints new executive committee
The Association of Short Term Lenders (ASTL) has today announced its new executive committee for the upcoming year. The new board will take effect as… More
LEBC warns parents to consider student debt carefully
National IFA, LEBC warns parents wanting to help their children avoid student debt to consider carefully whether this is a sound financial move.… More
SVL Business Solutions Ramps Up Support Team
SVL Business Solutions, the UK’s most experienced provider of multimedia interaction recording and advanced contact centre applications, has… More
71% of procurement professionals in banking and finance say Brexit uncertainty make plan difficult
71% said uncertainty making long-term plans difficult… More

Commercial Credit News

ASTL appoints new executive committee
The Association of Short Term Lenders (ASTL) has today announced its new executive committee for the upcoming year. The new board will take effect as… More

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Independent Growth Finance constructs £200k funding line for Rubico
IGF, the leading commercial finance provider for SMEs, has delivered a £200k invoice finance facility for Lincolnshire-based construction and… More
Emma Ryan joins Octopus
Emma Ryan has joined Octopus Property as its new head of servicing and legal.… More
New appointment: Siemens Financial Services
Julian Hobbs has been appointed CEO Siemens Financial Services, Commercial Finance UK, and accordingly to the Board position of CEO of Siemens… More
Retail results show online food sales are eating traditional supermarkets’ lunch
July’s Office of National Statistics (ONS) retail results, released today, reveal online food spending was up nearly 14% YOY. This makes online… More

Asset finance market records two years of consecutive monthly growth

Thursday, 05 November 2015

New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 3% in September compared with the same month last year – the twenty-fourth consecutive month of growth. New business for deals of up to £20 million grew by 8% in the same period, while total new business grew by 12% in the twelve months to September 2015.

IT equipment finance grew by 48% compared with September 2014, and commercial vehicle finance showed growth of 14% over the same period.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The growth in the asset finance market over the last two years has helped more businesses fund investment in essential equipment that they need to expand. The latest official data suggests that FLA members’ funding of UK investment in machinery, equipment and software has increased from 28.1% to 32.0% in only two years.”

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