Paul Goodman, chair of NACFB, said: “The data proves what we in the industry have long known, which is just how vital the intermediary-led route to market is for the UK’s 5.6 million SMEs."
Members of the National Association of Commercial Finance Brokers (NACFB) helped originate £40.9bn of borrowing by small to medium enterprises (SMEs) in 2021, up 50% on year before.
The NACFB survey pointed to a return to 2019’s funding levels, with the average size loan facilitated by members in 2021 standing at £458,582, up 17% on the year before, and surpassing 2019’s average loan size of £450,145.
The results showed that the most common reason a client’s loan application had been declined was that the sector was ‘deemed too risky’ by the lender.
Respondents ranked UK regions in order of where their clients’ funds had been utilised, and the East Midlands came out on top, followed by Greater London.
In total, the association’s members welcomed 146,885 new SME clients last year, an average of 146 per brokerage.
Paul Goodman, chair of the NACFB, said: “The data proves what we in the industry have long known, which is just how vital the intermediary-led route to market is for the UK’s 5.6 million SMEs.
"The trade body continues to forge stronger and deeper cross-party relationships within government, as well as the British Business Bank and the Bank of England.
"We will engage with any stakeholder that needs to know more about the essential work NACFB members undertake.”
