On 9 May, the ACC and AIMA submitted a response to HM Treasury’s recent Call for Evidence on Small Business Access to Finance. The Treasury is seeking views on how to improve the availability and affordability of finance for UK SMEs, with a particular focus on the role of non-bank lending models, borrower awareness, and structural barriers within the market.

Our draft response sets out the ACC’s perspective on the contribution of private credit and highlights three key points:

1. Private credit is now a mainstream and reliable source of SME finance, supporting a growing share of small and mid-sized businesses through tailored, long-term lending that complements bank provision.
2. Securitisation reform is a practical and underutilised lever for expanding SME finance, enabling both banks and non-bank lenders to recycle capital and serve more borrowers at lower cost.
3. Borrower education remains a critical challenge. Tools like our Borrowers’ Guide to Private Credit can support more confident SME engagement with private credit, and we encourage policymakers to promote these resources.

The ACC and AIMA will continue engaging with HMT to support a clear understanding of private credit’s role in SME finance.

For further information please contact Nicholas Smith ([email protected])