Brokers are increasingly turning to specialist bridging and commercial finance in 2013, with two thirds claiming to have experienced substantial increases within the sector this year.
<
div>Brokers are increasingly turning to specialist bridging and commercial finance in 2013, with two thirds claiming to have experienced substantial increases within the sector this year.
The news comes off the back of new research from Lancashire Mortgage Corporation, which asked brokers which areas of their business had performed strongly in the first half of 2013.
Almost a third (30 per cent) said bridging finance and a similar number (29 per cent) said commercial finance.
According to the latest British Bankers’ Association (BBA) statistics, despite initiatives like the Funding for Lending Scheme, banks continue to falter in the SME funding-sphere. As a result, many businesses are looking to specialist providers to fulfill their lending requirements and help their businesses prosper.
Brokers are increasingly optimistic about the opportunities this represents, with 45 per cent of survey respondents claiming that commercial finance is a focus point for the final two quarters - with, a similar number of 42 per cent focusing on bridging loans.
Commenting on the research findings, Gary Bailey, Sales & Marketing Director, Lancashire Mortgage Corporation, said: “Our research shows that specialist providers are continuing to plug the gap left by high street lenders.
“Many businesses are desperate for capital in order to help them grow – and brokers are responding to this by focusing on the provision of commercial and bridging finance from specialist lenders who have the appetite to lend.
“As businesses look to brokers to assist with sourcing commercial finance, there has been a corresponding increase in the confidence brokers are showing in the sector. When selecting a lending partner, it’s important brokers look for a well-established provider that is able to deliver the fast and flexible service they need in order to offer customers what they are looking for.”
Leave a comment