"The appetite for finance remains strong, with applications for Personal Guarantee backed business loans rising by 9% year-on-year despite economic uncertainty."
"Despite an uncertain economy, we witnessed a notable 50% increase in applications for SME loans for business acquisitions, reflecting strategic financial maneuvering."
In Q1 2025, applications for Personal Guarantee backed business loans in the UK increased by 9% year-on-year, signaling a robust appetite for finance amidst economic challenges. Interestingly, while overall loans for working capital dipped by 6%, they still represented 32% of all such loans, indicating persistent funding needs among SMEs. Additionally, there was a remarkable 50% surge in loan applications for business acquisitions, likely due to anticipated tax changes. Overall, the data reflects a resilient entrepreneurial spirit, with average loan amounts also rising significantly in this challenging economic climate.
#personal-guarantee-loans #sme-financing #economic-trends #business-resilience #loan-application-growth
Read at London Business News | Londonlovesbusiness.com
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