52% of UK business owners lack understanding of asset based lending.
Results of the latest Close Brothers Business Barometer* have also shown that of those who are aware, less than a fifth have considered it as a viable funding option.
The survey also revealed that 17% of small firms in the UK are experiencing problems accessing finance. David Thomson added:
David Thomson, CEO of Close Brothers Invoice Finance said:
“Asset based lending is an innovative financial solution that can significantly improve cash flow and generate additional working capital for any number of uses.
“It enables businesses to use a combination of assets as security for funding. For example, invoices, stock, plant and property all tend to be of a high intrinsic value and can therefore be funded.
“We know that SME business owners struggle with cash flow – a fifth say it is their main business concern on a day-to-day basis. This is why it’s important that they carefully review their financial strategy and ensure that they are aware of the many different ways they can fund their business growth.”
“Close Brothers Invoice Finance has an appetite to lend and remains committed to the SME sector. Our team of industry specialists create bespoke financial packages, taking a balanced, flexible approach to lending. It’s an extremely attractive option for businesses who are finding it difficult to access a lending package that is appropriate for their specific needs.”
*The Close Brothers Business Barometer is carried out on a quarterly basis. It canvasses the opinion of SME owner managers on a range of issues affecting their business.
