Though the annual growth rate of lending to small and medium enterprises (SMEs) in the United Kingdom is at a record low, MotoNovo Finance managed to increase its lending to the SMEs planning to buy new vehicles by 55% last year. Surprisingly, MotoNovo Finance’s growth in loans to SMEs is in stark contrast to the scenario reported by the Federation of Small Business (FSB), which recently stated that applications for finance from SMEs during the past 12 months had nosedived to the lowest level on record. Meanwhile, MotoNovo helped SMEs by offering more than £100 million as vehicle finance last year.
