By Daniel Hunter

The demand for credit, particularly amongst small and medium-sized businesses, is continuing to grow according to the latest Bank of England (BoE) Credit Conditions Survey, reflecting the demand from small businesses seen within the alternative lending sector over the last 12 months.

According to alternative funding specialist, the latest BoE figures are a positive indication of increased economic confidence and a desire for growth across UK business sectors. This momentum had already been observed by alternative lenders over the last 12 months — with credit sources, such as pension-led funding, crowd sourcing and peer-to-peer lending in strong demand from small business owners.

“The latest credit conditions report reinforces the strong desire we have seen from small business owners to help drive the UK economy out of the doldrums by proactively marketing and growing their businesses," Adam Tavener of, stated.

"The volume of enquiries and actual lending within the alternative funding sector, and pension-lending funding in particular, over the past 12 months has been a clear statement of intent from business owners that they are confident in their own businesses and want to back them for growth.”

“There is still room for improvement as the BoE figures show that the small business sector is just starting to regain its confidence in seeking credit from traditional lending sources. However, the fact that credit demand amongst small and medium-sized businesses is accelerating, is good news for the UK economy and all funding providers.”

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