New Tech Could Unlock £5bn in SME Credit by Fixing ‘Readily Fixable’ Profile Errors

Research from FXE Technologies, conducted as part of a coalition led by the Centre for Finance, Innovation & Technology (CFIT), found that UK SMEs could unlock an estimated £5 billion in additional credit each year by addressing common, readily fixable issues in their credit profiles. Analysis of 24,000 declined loan applications showed that many businesses were being held back by factors such as late filings, missed supplier payments and excessive overdraft usage.

The findings support the development of FXE’s Funding Health Checker, a digital tool designed to help businesses understand how lenders assess applications and identify actions that can improve their chances of securing finance.

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