Funding for businesses will become a major source of trade for brokers, according to a survey carried out by the lender, after it was found that 54 per cent of brokers plan to focus on commercial finance in the coming year.
The figures collected by Lancashire Mortgage Corporation show that although high street lenders are still restricting lending to businesses, there is still a high demand for commercial finance.
According to the survey, a further 51 per cent of brokers plan to diversify their business into the commercial finance sector in 2013, which the lender has claimed is evidence of the increased potential that commercial finance offers.
Speaking about the survey’s findings, Gary Bailey, Sales and Marketing Director at Lancashire Mortgage Corporation, said: “Business owners are still looking for the appropriate finance to grow their business and bridging finance and commercial secured loans are becoming more appealing to them.”
He added: “Brokers are responding to this demand and adding commercial finance to their portfolio, which will be welcome news to many businesses.”
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