New York, New York--(Newsfile Corp. - November 1, 2022) - Credit Finance has revealed that it is on course for a record-breaking 2022 after it increased the total amount lent to businesses by more than 36% during Q3. The alternative business lender also saw a rise in its average loan size from £750,000 to £2,200,000, while the total increase in demand in applications was up by almost 12% in Q3.
Credit Finance saw major growth in the construction industry, with a 91.2% increase in loans deployed, while oil and gas was up 38.1%. Meanwhile, loans deployed to information and communication companies grew by 44.5%. Since its launch twelve years ago, Credit Finance has lent over £500m to UK and European SMEs off its own balance sheet and is on track to lend over £42m by the close of 2022.
"The significant rise in lending we have seen in the construction and real estate sectors prove there is still demand for property development in the UK," said Leonardo Bonetti, co-founder and managing director at Credit Finance Ltd.
"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."
Bonetti added: "We want to continue doing right by entrepreneurs, especially in a time of such unease in the UK and across Europe. This has been a very exciting year for Credit Finance so far and we're well on track for achieving what once seemed like a hugely ambitious target."
Leonardo Bonetti - Chief Executive Officer - Credit Finance Ltd.
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About Credit Finance
Credit Finance is a multi-award-winning digital business lender dedicated to providing businesses across Europe with flexible finance, done properly. The company's mission is to empower businesses to unleash the potential of their ideas with the knowledge, tools, and financial flexibility they need to thrive.
Since launching in 2010, Credit Finance has lent millions to small businesses all over the UK and Europe, won many awards, and helped thousands of business owners to fulfill their ambitions.
Credit Finance's business loans have become a popular alternative to paperwork intensive bank loans, expensive merchant cash advances, and other creative forms of financing disguised as true business loans.
Business owners can apply online in under 10 minutes, get pre-qualified, and get funded after approval in as fast as 48 hours.
Media Contact -
Company name: Credit Finance LTD
Contact name: Nasser Al Abdulla
Company address: 2nd Floor, College House, 17 King Edwards Road, Ruislip, HA4 7AE, London, United Kingdom
Website URL: www.creditfinance.co.uk
Contact Mail: nasser.al-abdulla@creditfinance.co.uk
Phone: +4407761215729
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