Total commercial lending to SMEs via brokers was up by 17% year on year, according to The National Association of Commercial Finance Brokers’ (NACFB) latest annual survey of its members.

However, overall lending is only 39% of the total at the peak of the market.

Invoice finance has increased for the third year running and is now double of that in 2007. Buy-to-let mortgage lending has risen slightly after the very large decrease in the previous two years.

Adam Tyler , chief executive of the NACFB, said: “We have continued to see the SME community struggling to raise funding and being faced with increased costs. Our latest figures reveal the true position of both excellent and vulnerable businesses across the whole of the UK. Despite many lenders’ protestations that they are lending more than ever