The Rise of Asset-Based Lending in the UK - A Look at the Future
Tim Corbett Marketing Director of GMAC Commercial Credit Ltd (GMAC CC) The statement that asset-based lending is on the increase is something that no one involved in the commercial finance industry can ignore. Recent figures, produced by the Factors and Discounters Association (FDA) of the UK, support this and show an increase from £2billion per annum in 1993 to over £6billion per annum last year. During this period there has been a marked shift in high street bank lending to the SME market, with the British Bankers Association announcing in November 2001 that the overdraft was no longer the principle form of finance. Since the last major recession in the early 1990s the clearing banks looked to see how they could better improve their security particularly within the SME market.
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