According to the second iwoca's SME index, which covers a four-week period in May, it was found that over a third (38%) of brokers had submitted more lending applications for unsecured finance compared to the four weeks prior to that, suggesting that SMEs are increasingly using credit to support their growth and recovery. Almost one in five brokers (19%) saw demand increase significantly – submitting 50% or more applications compared to the previous four weeks. This has risen from 14% of brokers citing the same in the Q1 index.
