This number includes a blend of packagers and satellite packagers and further demonstrates a ‘flight to quality’ in the market, whereby packagers are moving towards lenders who can offer them stability and reliability.
This can obviously be most clearly seen in the strength and consistency offered by predominantly balance sheet lenders.
David Murphy, sales and marketing director at TMB, said that lenders who disparage the packaging sector are well wide of the mark: “I find it staggering that some lenders are turning their backs on packagers at this time. There is no doubt that current market conditions are more challenging but this is surely when lenders should embrace strong relationships. I’m at a loss to think of another industry when a provider would turn away prospective clients.
“We judge new packagers on existing stringent conditions and are delighted to start 2008 with so many new packaging partners and a continuing ‘can-do’ attitude.”
