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The Finance & Leasing Association (FLA) has released the latest figures for the
asset finance industry.
During the first quarter of 2006, there was strong growth in asset finance
provided to fund capital investment, with new business up 14% compared with the
first quarter of 2005, reaching almost £5.2 billion.
Finance for plant, machinery and equipment recorded the biggest increase with
new business up 23% in the first quarter.
Both finance leasing and hire purchase were popular as methods for funding
investment, with new business up 16% and 20% respectively in the first quarter.
Commenting on the figures, Martin Hall, FLA’s Director General, stated: “This
latest set of figures is most encouraging for the asset finance industry
particularly when viewed against relatively weak business investment figures
more generally.
"It is indicative of the increasing popularity of asset finance as a method of
funding those capital purchases which are vital to the health of UK businesses.”
Source:
Credit
Control Journal
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