SME borrowing growth remains sluggish—just 1% year‑on‑year according to market trends—even while larger firms continue to expand more aggressively.
Meanwhile, the British Business Bank reports that the share of SMEs using external finance has dropped from 50% in Q3 2023 to just 43% in Q2 2024. Combined with results from the Bank of England, this shows that many SMEs would rather grow slowly than borrow to expand.
What This Means for SMEs
- Limited access: Fewer small firms are securing loans—despite increasing demand.
- Hesitant to borrow: Many businesses remain wary due to high borrowing costs and weak confidence.
- Opportunity gap: Challenger and specialist lenders now account for over 60% of SME lending—filling a void left by traditional banks.
Why Agile Asset Finance Matters
Asset finance offers the speed and flexibility SMEs need, without draining cash reserves or relying on complex loan approvals. It stands out amid:
- Slow traditional borrowing cycles
- Increasing preference for tailored or off‑balance sheet financing
- Rising competition from challenger banks and alternative finance providers
Coast Asset Finance Delivers for SMEs
We understand SMEs don’t have time to sit through underwriting cycles—and that growth can’t always wait.
✅ Unlock the assets you need
✅ Preserve cash flow
✅ Scale confidently in real time
Let Coast Asset Finance be your flexible capital partner.
Curious about how asset finance could work for your business?
