Asset based lenders can provide support for UK SMEs in wake of Brexit
The Managing Director of the UK’s biggest invoice finance company, has released a statement praising the asset based finance sector, stating that this is best way to support small and new businesses through the uncertain economic times brought on by the UKs decision to leave the EU.
The comments were addressing international reports regarding the declining confidence of existing SME's in the UK, as well as a possible funding gap, detering Entrepreneurs from opening new businesses.
As per the Asset Based Finance Association (ABFA), its members supplied £19bn to UK businesses at the end of this quarter in 2016. Experts believe that the sector can use this type of funding together with other forms of finance, because of the way it provides funding against a business’s assets.
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