500 New UK companies have tapped the abl market between January and the end of March 2012. There are also currently 42,000 SME’s who regularly raise capital using this kind of funding. In the first quarter of 2012 lenders advanced £15.4bn against assets and invoices, a rise by 4% on the same period in 2011.
The rise in ABL could be due to the fact that banks are less likely to lend to companies than they have been in previous years. The Bank of England has dramatically dropped their amount of lending this year, with figures dropping £9.6bn in quarter 1 (the biggest quarterly drop since 2009) and £1bn in quarter 2.
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