Trevor Pirie of Corporate Asset Solutions reports that his company’s business activity in May reflected much of the calendar year to date with refinancing high on the agenda for many businesses. A few customers going a stage further by taking out existing finance relationships on encumbered equipment, reducing their monthly outlay and freeing up cash for investment in their businesses. Invoice Financing remains strong and increasingly seen as a viable option to those businesses under pressure from their banks to reduce or loose their overdraft limits. Manufacturer vendor programmes are as strong as ever as they continue to use their finance partners and treasury departments to offer “subsidized” finance to end users. The peer-to-peer community seem to be at an interesting crossroads with a noticeable slur in credit appetite coinciding with the announcement that regulation is coming their way via the FSA. Businesses levels held up well but understandably decisions for customers to commit still taking time.
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