Enquiries to the NACFB’s findSMEfinance platform were up 132% on the same period last year, representing a 75% increase on September’s figures.
London witnessed the greatest surge in demand for business finance, with 64% of enquiries coming from the capital.
Paul Goodman, chairman of the NACFB, said: “Appetite for commercial mortgage finance is a good indicator of small business confidence as it shows firms are confident enough to commit to the long term.
“Last month we saw a huge uplift in enquiries from a variety of businesses – ranging from publicans and smaller retailers to hairdressers and restaurants – so it’s starting to feel like the SME community has got over any Brexit-related nerves.
“While some of those businesses will also be looking to avoid steep commercial rents, especially in the capital, the confidence to take out a commercial mortgage bodes well for the future.”
The news comes less than a week after the government launched a new advisory panel to boost spending on small- and medium-sized enterprises (SMEs) across the UK.
On 24th November, Bridging & Commercial reported the launch of a £145m fund for SMEs in the North East.
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