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The asset finance market grew by 9% in the second quarter of 2012 as more than 50,000 businesses invested in new equipment using leasing, according to new figures from the Finance & Leasing Association. While lower than the 13% growth seen in the first quarter, the Q2 figures contrast with the fall shown in the latest estimates of GDP. IT equipment finance was up by 48% in the second quarter of 2012. Plant and machinery, and car and commercial vehicle finance, also showed growth. More agreements were made through commercial finance brokers and equipment suppliers, with both channels up by 14% in the quarter. Julian Rose, head of asset finance at the FLA, said: “Awareness of the benefits of asset finance is growing among SMEs, and many businesses are finding the funding they need through one of the more than 500 commercial finance brokers across the country, which are listed in our new online directory. “The government has rightly included asset finance in its programme of measures to ease the flow of credit to small businesses. Expanding those measures to include a wider range of asset finance companies would help even more businesses to invest.” Other Business Money News
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