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News - 17 March 2014

Asset based finance advance record amounts to SMEs

The Bank of England have said that bank lending to small businesses fell by a further £300 million in January, with net lending down by an incredible £56 billion since May 2010.

Not good.

However, during the final quarter of 2013, asset based finance companies advanced £18.3 billion to clients, according to the latest figures from the Asset Based Finance Association. Not only is this an all-time high, it’s 32% higher than the corresponding quarter just four years earlier.

They draw a correlation with the 43,485 clients who received this injection of finance, with details that they were able to record total sales of £72.7 billion.

Lavinia Newman, founder of ABDS comments:
“Asset based finance is different to traditional lending. Banks and independent funders advance money against the value of a range of assets, including unpaid invoices, stock, property, plant and machinery. With invoice finance at its core, whereby up to 90% of an invoice’s value can be released just 24 hours after its issue, it provides a cash flow boost that can be put to use by taking on more orders, securing early settlement discounts from suppliers or just generally meeting day-to-day commitments.”

If you need any help and advice on Management Accounts, Budgets and Cash Flow Forecasts, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 

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