Government needs to act now to support non-bank lenders as forbearance requests reach almost 1.2 million

7 May 2020

The FLA has renewed its call to the Government and the Bank of England to take urgent action to support the non-bank lending market. New figures released today by the Finance & Leasing Association (FLA) show that FLA members provided just over £138 billion of new business in the twelve months to March 2020. Of this total, £44 billion was provided by non-bank lenders.

Stephen Haddrill, Director General at the FLA, said:

“The asset, consumer and motor finance markets have been hit hard by the measures taken to deal with the coronavirus crisis, with a 20% fall in new business in March alone.  FLA members have also faced almost 1.2 million Covid-19 related requests for forbearance, of which 75% have already been granted. The industry is committed to supporting their customers during these exceptional times. 


“Urgent action is needed – in days, not weeks – to deliver financial support to the non-bank lending sector to ensure that we maintain a financial services sector that is diverse, innovative and competitive.”


Mar 2020

% change on prev. year

3 months to Mar


% change on prev. year

12 months to Mar


% change on prev. year

Total FLA new business (£m)









By customer:








Business (asset) finance (£m)







Consumer finance (£m)








Within the above:







Motor finance (£m)







 Note to editors:

 In 2019, FLA members provided £140.3 billion of new finance to UK businesses and households. £104.7 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2019. £35.7 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2019.

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