The report shows brokers reporting that purchasing a property is a powerful driver for SME borrowing, with almost half of the loans taken out by businesses fuelled by property purchase reasons.
Nearly one-fourth of businesses said they had had trouble getting SME funding, a slight improvement from a previous survey, when almost one in three reported accessibility problems.
Despite this improvement, there is a substantial number of SME borrowers that need to address issues to raise the necessary funds for their businesses.
The new survey shows that SME attitudes are changing, with businesses recognising the opportunity to leverage lower interest rates compared to last year, said David Castling (pictured), Atom bank’s head of intermediary distribution.
He noted, however, that small businesses are “hugely important to the economy,” adding that SMEs can only thrive if they can raise the funds they need.
