Asset finance lenders remain bullish

Two years of soaring inflation, the highest interest rates since 2009, soaring energy costs due to conflict in Ukraine and the Middle East, plus a general election on the horizon have reduced the appetite for SMEs to invest. The IMF has downgraded its 2024 forecast for UK growth to 0.6%, the lowest in the G7, and lenders are already facing higher credit risks and rising defaults.

Amid this gloomy outlook, however, the asset finance industry is optimistic (in public at least), according to Asset Finance Connect’s inaugural Asset Finance Outlook report for H2 2023, sponsored by FIS. Historically, when the lending market gets tough, asset finance thrives, supporting SMEs when other lenders withdraw.

In September 2023, Asset Finance Connect carried out the first in a new half-yearly asset finance confidence survey designed to gauge market sentiment for the next six months among leading asset finance providers. Respondents were exclusively selected from companies that serve the SME community.

Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Time Finance plc

More articles like this

Time Finance plc

Strengthening your business financial health

Managing a business’s finances can be challenging, especially when faced with financial difficulties that impact your credit score. A bad credit score can create obstacles in obtaining funding and increase borrowing costs. However, there are practical

Time Finance plc

Time Finance celebrates strong growth and positive forecasts

Time Finance, a specialist business lender based in Bath, is experiencing significant growth, with expectations to surpass financial targets for the current year. The company now anticipates achieving annual revenues of at least £35.1 million and

Time Finance plc

Time Finance anticipates stronger financial year ahead

Time Finance, a specialist finance provider listed on AIM, has announced its expectations for a stronger-than-anticipated performance for the full year. Over the first five months of the 2024/25 financial year, the company has reported consistent

Time Finance plc

Time Finance appoints Matt Heap as new Head of Credit

Time Finance has welcomed Matt Heap as the new Head of Credit within its Asset Finance division, bringing over two decades of experience in financial services. Matt’s background includes senior positions such as Business Manager at

Time Finance plc

UK budget changes target economic growth and business stability

This year’s Budget announcement has introduced several new measures that the Government hopes will rebuild public finances, create economic growth, and strengthen business foundations across the UK. Among the most notable shifts is a £40 billion