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Asset Based Lending

Asset finance up 10% in November

By CreditMan Thursday, January 14, 2016

New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 10% in November 2015, compared with the same month in the previous year.

New finance provided for commercial vehicles and IT equipment grew by 20% and 15% respectively in November, while plant and machinery finance was up 8% over the same period.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“In November, the asset finance industry reported its strongest rate of new business growth since June. In 2015 as a whole, we expect the market to record its second consecutive year of double-digit new business growth and reach its highest level of annual new business since 2008.”