iwoca SME Expert Index
Our quarterly survey with influential UK SME brokers who collectively submit thousands of small business finance applications per month.
Colin Goldstein
Commercial Growth Director of iwoca
"Our SME Expert Index provides a regular snapshot on what’s driving small business owners to borrow, according to finance industry experts. It shows trends in the types and value of finance being accessed, and how these patterns change as the country navigates economic shifts in the market."
SME Expert Index
Q2 2024 headline statistics
73%
34%
33%
60%
> See full data trends
The market as a whole has bounced back after the continuous doom and gloom expected in 2023 - this has now filtered down to SMEs who have gained renewed confidence. At TAFCO we have noticed a rise in loans above £75,000 with a desire to settle higher rate debt, consolidate smaller loans and reduce outstanding terms on the back of an increased order book. We expect this to continue given the rate decrease across the market, from both unsecured and secured Hire Purchase debt.
Our strategy has always been to utilise specialist lenders outside of the high street to ensure that our customers are supported across all of their requirements; the creditworthiness and requirements from high street lenders has become restrictive to many businesses.
Dan Guest
Director & Asset Finance Specialist, TAFCO Ltd
We partner with brokers
Become an introducer or find out moreRead our previous
SME Expert Index press releases
- Clouds part in small business outlook as SME brokers bullish on economy - Q2 2024
- Applications for loans over £100k grow by half as SME optimism returns - Q1 2024
- Recession concerns drop by a third in a year, as small businesses demand larger loans - Q4 2023
- High street banks reduce appetite to fund SMEs, with worse yet to come - Q3 23
- Government will miss inflation target this year, brokers predict - Q2 23
- SME confidence makes a cautious comeback - Q1 23
- High street banks cut lending to SMEs as demand for finance grows - Q4 22
With an iwoca business loan you can
- Borrow from £1,000 to £500,000 over 24 months
- Get a decision in 1 working day
- Repay early with no fees