New asset finance business grows in July 2024
New Asset Finance business grew 9% in July 2024
The latest data from the Finance & Leasing Association (FLA) shows that asset finance new business, mainly through leasing and hire purchase, grew by 9% in July 2024 compared to July 2023. Over the first seven months of 2024, new business was up 5% from the same period last year.
The commercial vehicle finance sector saw an 11% increase in new business in July, while the plant and machinery finance sector grew by 14%.
The asset finance market had a strong start to Q3 2024, with growth across the board. Lending to both SMEs and larger businesses was up by 10% and 6%, respectively, compared to July 2023 with all major industry sectors, including manufacturing, services, and construction, benefited from the higher levels of new business.
How to apply for Asset Finance?
MAF Finance Group can compare finance offerings from a wide panel of lenders to find the best option for you.
To get a quote or more information on the Growth Guarantee Scheme, fill in the form and we will contact you. You can also call us on 0115 958 6872 to speak to a team member directly or email us at enquiries@maffinancegroup.co.uk.
If you need any more information, email enquiries@maffinancegroup.co.uk, call 0115 958 6872 or fill in an enquiry form below.
Have Any Questions?
Qualified Team Available
Related Articles
MAF Finance Group has been shortlisted for an incredible four awards at this year’s Leasing World Gold Awards.
Understanding the Circular Economy and Recycling with Opportunities for Asset Finance and Sustainable Investment
The latest asset finance data shows that new business has grown in July.
The Growth Guarantee Scheme (GGS) is set to support 11,000 businesses across the UK.
The Growth Guarantee Scheme (GGS) is a government-supported lending initiative available to businesses across the UK.
The 74 registration plates will be officially available from September 1, 2024.