Asset Based Lending generates market momentum in Q1
The latest Invoice Finance and Asset Based Lending data from UK Finance has been published for Q1 2018, highlighting a four percent growth in advances year-on-year to almost £22 billion.
Of particular interest is the significant uptick in wider ABL advances reported, from 11 percent last year.
Stuart Bates, Commercial Director of Praetura Commercial Finance, comments: “As well as having the power to transform organisations, asset based lending is a strong growth story in its own right. As the statistics from UK Finance attest, asset based lending has not only firmly established itself as a supportive, strategic source of funding, it is still increasing in popularity.”
“The buoyant start to the year in respect of management buy outs and acquisitions will have been reflected in these figures. The private equity market has been particularly dynamic at the beginning of 2018, with more sponsored deals coming to the fore in Q2 and this trend is reflected in our recent deal activity and completions.”
“As a member of UK Finance, we are also pleased that the accessible, revamped new guide, ‘The Standards Framework’, has now been published, clearly outlining the Code, Independent Complaints Process and Professional Standards Council, setting out the standards for the industry for both clients and prospects.”