Another busy week of phone calls and a couple of trips to Birmingham, including the increasingly crowded German Market.
Currently compiling a number of reports for peer to peer facilities and this type of funding really is gaining popularity with competitively priced, quickly implemented, facilities offering real options.
As and when interest rates go up so the peer to peer lending market will be tested as investors may return to more conventional places for their funds.
The Asset Based Finance Association (ABFA) revealed industry statistics for 2014 Q3 revealing their members clients were using £19.3bn of funding as compared to £17.2bn a year earlier. The vast majority of this funding is against outstanding invoices with just over 5% attributable to other business assets (stock, plant, machinery, property, etc)
The physical number of clients remains pretty static with 43708 recorded clients amongst ABFA members. At the end of 2004 there were just under 40000 clients so client numbers have grown less than 10% in the last 10 years. This suggests the increase in funding is attributable to much larger clients and smaller possible clients are not being attracted to debtor based facilities.
Marketing calls come to an end soon; once Christmas parties kick in is the general rule as businesses use Christmas as a reason to defer any decision. The venue for the FactoringPartners Christmas Party has not yet been determined!