SMEs neglect €500m of invoice financing

There was roughly €500m available in invoice finance to SMEs that went unused over the second quarter of the year, according to the trade body the Asset Based Finance Association.

The claim follows a raft of reports that showed a lack of credit was hampering growth in the SME sector.

The lobby group representing small business, ISME, released a survey last Monday which found that one in every two SME loan applications has been rejected by the banks.