Bank lending to SMEs in the property sector has fallen by 9% in the last year from £13.9bn to £12.7bn, according to commercial lender Ortus Secured Finance.
However, manufacturing was one of three sectors to see an increase in lending last year with SMEs in industry enjoying an 11% rise to £6.3bn. MD Jon Salisbury commented: "The fall in lending to SMEs in the property sector is indicative of the wider lack of financing available to smaller businesses from the high-street lenders across all industries as the economy rebalances."
Armstrong Watson recognises that access to funding is a key issue for many SME businesses and is often a significant factor when it comes to being able to compete and most importantly trade. Helping SME business and supporting them through their business need is at the heart of what we do at Armstrong Watson. We work with many leading banks and financers and have access to over 100 respected lending and finance partners.
If you require financial support and need help in finding the right solution to your business then we can help.
Call 0808 144 5575 or contact us below for an informal no obligation chat. We will do the leg work for you and ensure we match you with the perfect funding partners supporting you through the process.Contact us
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