Lending through Covid

A MarketFinance Business Insights Report

We've put together this report to paint the picture of the small business landscape during a year that has changed the state of play for every industry, up and down the country.

REACTING TO COVID-19

Here at MarketFinance, we found ourselves in a unique and privileged position in 2020. We’ve been able to support businesses through a tremendously tough year. We’ve also managed to spend time capturing and documenting what has happened to us as a lender this past year too.

As the year draws to a close, we’ve taken a moment to reflect on the last few months for MarketFinance, pulling together a snapshot of business activity and behaviour.

ALL HANDS ON DECK

This report pulls together key lending insights from 2020, including:

  • MarketFinance lent a total of £342,394,851 between January to November 2020 – a 3.4% increase over the same period in 2019.
  • The profile of companies using invoice finance changed significantly during COVID-19. Businesses were bigger than usual and received 83% more finance on average through larger funding limits than in 2019.
  • Businesses in London, Hertfordshire, East of England and the South West experienced the greatest drops in invoice finance year on year. These areas are hubs for the Administrative + Support Services and Information + Communication industries, which shows how hard these sectors have been hit by COVID-19.
  • 60% of all loans advanced went to four sectors: Administrative + Support Services, Wholesale + Retail Trade, Manufacturing and Construction.

LOOKING TO THE FUTURE

We’ve seen how challenging this year has been for businesses across every industry and region. It will take time for the UK economy to recover fully from the impact of COVID-19. But we are starting to see a strong comeback. 

Download our report to get all the insights on this turbulent time.