Asset Advantage launches new survey to uncover business finance landscape
Asset Advantage, one of the UK’s leading providers of business finance for SMEs, has launched a brand-new survey to uncover the key challenges and opportunities facing commercial brokers in securing business funding for clients.
The business finance survey from Asset Advantage questions commercial brokers on a range of topics to determine the changing demands of the market and the growing complexity of cases. It will identify the key factors facing commercial brokers when securing funding, including how lenders have adapted their criteria and approach to lending.
The survey will also focus on the growing use of business loans as a means to secure funding for hard and soft assets, as well as for business expansion and acquisition. Asset Advantage just recently celebrated 10 years of offering business loans with the launch of its new online content hub for brokers.
The survey is now live and open to all commercial finance brokers to complete – including Asset Advantage’s own panel of more than 300 commercial brokers. Attendees at the NACFB’s Commercial Finance Expo at the NEC in Birmingham will also be able to take part by visiting the Asset Advantage stand W27.
Philip Knight, credit and risk director at Asset Advantage, said: “There’s no question that demand for funding among SMEs has only increased in recent years. At the same time, the reasons and requirements for funding have continued to broaden too, whether it’s for investment, expansion or acquisition. Through the insights and experiences of commercial brokers, we will be able to take closer look at the current landscape of the market, its challenges and its opportunities.
“We will also be able to map out the continued growth of business loans and their use beyond pure business acquisition. This is something we are certainly seeing at Asset Advantage, although we do hear anecdotally of the difficulties some brokers face in securing this type of funding for certain cases and from other lenders. By exploring this topic in the survey, we can continue to provide brokers with real value to inform their decision making.”
Business loans from Asset Advantage enable businesses to borrow up to £1m and are typically used for business acquisition, management buy-outs and buy-ins. This is alongside growing use for hard and soft assets such as equipment, software and technology and soft furnishings. Asset Advantage business loans are not suitable for short-term cashflow requirements.
It is part of a full offering from Asset Advantage, which has also been providing asset finance through finance lease and hire purchase for more than 17 years.
Commercial finance brokers can complete the survey at https://forms.office.com/e/pz76qFV9Dz