• 03 Nov

    7 Percent Of SME Businesses Have Business Loans

    In our recent survey, we asked a group of 100 SME businesses if they had a business loan. 7% said that they did so 93% don't have a business loan. This is an interesting contrast to the 88% who said they had an overdraft. This places overdraft as a more widely used form of finance than business loans.

    This is much higher than the percentage that uses invoice finance, factoring and invoice discounting (less than 1%). In our previous surveys, 35% of businesses thought that the reason for the low take up of invoice finance was that the products were not well promoted and hence were not known about.

    (Published 3rd November 2010)

    By Glenn Blackman

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