Fleximize reports 45% SME lending rise

Fleximize has revealed that it is on course for a record-breaking 2018 after it increased the total amount lent to businesses by more than 45% during Q3.

The alternative business lender also saw a rise in its average loan size from £50,700 to £60,700, while the total increase in demand in applications was up by almost 12% in Q3.

Fleximize saw major growth in the construction industry, with a 91.2% increase in loans deployed, while accommodation was up 38.1%.

Meanwhile, loans deployed to information and communication companies grew by 44.5%.

Since its launch four years ago, Fleximize has lent over £85m to UK SMEs off its own balance sheet and is on track to lend over £100m by the close of 2018.

“The significant rise in lending we have seen in the construction and accommodation sectors prove there is still demand for property development in the UK,” said Peter Tuvey, co-founder and managing director at Fleximize (pictured above). 

“As for the information and communication industries, I’m glad to say we’re part of the technological innovations happening in Britain and we’re helping turn these businesses into a reality. 

“We want to continue doing right by entrepreneurs, especially in a time of such unease in the UK. 

“This has been a very exciting year for Fleximize so far and we’re well on track for achieving what once seemed like a hugely ambitious target.”

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