Overcast

Overcast

max temp: 11°C

min temp: 7°C

Search

Rising demands for investment in construction and new homes

PUBLISHED: 18:31 18 October 2018

Peter Tuvey of Fleximize.

Peter Tuvey of Fleximize.

Archant

Ipswich-based alternative business lender Fleximize it is on course for a record-breaking 2018 after almost doubling its lending to entrepreneurs between the second and third quarters of this year.

In a trailblazing quarter, Fleximize increased the total amount lent to businesses by more than 45%.

Proving entrepreneurial drive in the UK is still high - despite mounting uncertainty - the company saw a rise in its average loan size from £50.7k to £60.7k and a total increase demand in applications up almost 12%in the third quarter.

Sectors to note for this growth in Q3 include the construction industry which saw a 91.2% increase in loans deployed, accommodation with 38.1%, and information and communication following with a 44.5% increase.

Since launching four years ago, Fleximize has lent more than £85 million to British SMEs and the company is well on track to hit its goal of lending more than £100 million to SMEs by the close of 2018.

Peter Tuvey, co-founder and managing director of Fleximize said: “Our consistent growth is testament to the hands-on, hard-working and dedicated entrepreneurs supporting the UK economy and we’ve become a necessary part of their success stories.

“The significant rise in lending we have seen in the construction and accommodation sectors prove there is still demand for property development in the UK.

“As for the information and communication industries, I’m glad to say we’re part of the technological innovations happening in Britain and we’re helping turn these businesses into a reality.“We want to continue doing right by entrepreneurs, especially in a time of such unease in the UK. This has been a very exciting year for Fleximize so far and we’re well on track for achieving what once seemed like a hugely ambitious target.”

Search hundreds of local jobs at Jobs24

A multinational company which employs around 600 people in Glemsford could relocate out of the UK if Theresa May’s plans are rejected and Britain opts for a hard Brexit.

A motorist was stopped in Ipswich after vehicle checks found the car not to have a valid MOT.

An Ipswich man accused of attacking a neighbour has been cleared by a jury.

Suffolk singer Ed Sheeran has admitted he has no immediate plans to release an album and will go on his second year-long blackout once his tour finishes as he spoke out about his mental health battles.

A man has shared pictures of vast fly-tipping on the pavement outside his Ipswich flat.

A drug dealing hotspot is to be targeted with increased police patrols after residents said they were scared to go out.

New management has been found for several schools in Suffolk and north Essex formerly run by the controversial academy trust Bright Tribe.

A vehicle has spilled a huge volume of diesel on the A14 near to Ipswich.

A three-car collision between the Copdock roundabout and Wherstead caused three miles of traffic jams on the A14, just outside Ipswich.

The controversial closure of magistrates courts in Suffolk has not impacted people’s access to justice, a minister has claimed.

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Ipswich Star daily newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

MyDate24 MyPhotos24