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|FLA comment on BBB's Small Business Finance Markets Report|
|Thursday, 23 February 2017|
Commenting on the publication of the British Business Bank’s (BBB) Small Business Finance Markets Report 2016/17, Simon Goldie, Head of Asset Finance at the Finance & Leasing Association (FLA), said: “We welcome the BBB’s report, which highlights the significant contribution made by the leasing and hire purchase markets to SME investment and growth. In 2016, £16.8 billion of new asset finance was provided to SMEs, £1.0 billion more than the previous year. Over the last three years, 96% of SMEs applying for asset finance were successful in obtaining it.
“We agree with the BBB that still more needs to be done to promote awareness among SMEs of specific finance providers and we have suggested that the BBB should run an impartial and comprehensive online directory of funders, giving SMEs easier access to the full range of finance options available to them.”
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