Demand for asset finance doubles in 2018

The lender has seen demand for asset finance from the construction sector increase by 152% in 2018.

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.

Meanwhile Arkle’s lending to the manufacturing industry has risen consistently, 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.”