Asset Finance on the Increase

Johnson Reed
1m read

A recent report released by the Finance and Leasing Association (FLA) has shown that asset finance has increased over 2011. Their report, based around the third quarter of 2011, indicates that several industries have seen an increase.

Compared with Q3 of 2010, new business deals have seen an increase of 11 percent, up to almost £5 billion.

Geraldine Kilkelly, the Head of Research and Chief Economist at the FLA, reported that the broker channel in particular has performed well in 2011. Broker-sourced new business had grown in Q3 2011 by 18 percent.

Some of the industries had shown great progress; finance for commercial vehicles had grown by 28 percent in Q3 2011, compared with the same date range in 2010.

The Plant and Machinery Finance sector had grown by 6 percent in 2011, while the business equipment finance sector had grown by 16 percent.