Latest ABFA Factoring & Invoice Discounting Statistics
The latest Asset Based Finance Association (ABFA) statistics have been published and can be viewed here:
http://www.abfa.org.uk/statistics/ABFAStatsQ12009.pdf
They show reductions in the amount of funds provided and contractions in client turnover but they also show a reduction of c. 3% in the actual number of clients across the members.
The invoice finance market is tough but we are still seeing growth in our own client book, indeed having recently had our best month ever for new factoring and invoice discounting clients. There are still factoring companies providing facilties out there, it is just a case of knowing where to look.
It is however ironic to think that in times when many financial institutions are on their knees this niche sector, that is perfectly adapted to lending throughout a recession, is not making more of the situation and growing its appeal as an alternative to those sources of bank finance that are drying up.
ShareThis
Leave a Reply
You must be logged in to post a comment.