25-Jan-2019
Data released by the specialist lender Arkle
Finance shows that brisk demand for asset finance from the
construction, haulage and warehousing businesses continues, despite Brexit concerns.
Investment appetite was highest among construction
sector firms, which posted a 152% increase in demand for Arkle’s asset finance
products. Similarly in the haulage industry, Arkle recorded a 115% growth in
finance secured against transport and logistics assets compared with 2017
lending levels.
Arkle’s lending to the gym, health & beauty, and
manufacturing sectors has also grown steadily over the past three years,
increasing 128%, 59% and 48% respectively across those sectors since 2016.
Lending to gyms almost doubled in 2017, posting a
96% increase on 2016 levels, before increasing by a further 16% last year.
Meanwhile Arkle’s lending to the manufacturing industry has risen consistently
in the last few years, rising by 23% from 2016 to 2017, and then by a further
20% from 2017 to 2018.
New lending to all sectors increased by 14% in 2018,
more than double the 6% growth achieved in 2017.
Daniel
Bailey, managing director of Arkle Finance, commented:
“It’s reassuring to see how many of Britain’s SMEs
continue to invest in their future by seeking finance to help them grow.
“Construction and haulage are both sectors being
buffeted by Brexit uncertainty, yet our data shows that many firms in these
industries are investing in new assets to keep their competitive edge.
“2018’s strong sales figures aren’t just a source of
pride for Arkle’s team; they’re a statement of intent. We’re determined to play
our part in helping Britain’s SMEs to grow, and to broaden our asset mix.
“While retaining a strong focus on our core,
business equipment-focused lending, we’ve broadened our asset appetite to
enable us to lend to more high performing, high potential businesses in all
sectors.”