The National Association of Commercial Finance Brokers (NACFB) has announced the results of its latest annual member survey, revealing a shocking picture of the small and medium sized enterprise (SME) community.
In fact, some members reported an 85% drop in business year on year.
Total funding fallen by nearly 60% year on year and buy-to-let business reported a drop of 88%.
Chief executive of the NACFB, Adam Tyler , said: “These figures reveal the true and shocking picture of the struggling SME community. Despite many lenders’ protestations that they are lending more than ever