Spark Finance publishes rate indexes, market reports, and data-driven guides on UK SME finance. This page explains how we collect data, how we process it, and the limitations you should be aware of when using our published data.
Sources of our data
Spark Finance draws on two primary categories of data in its published content:
First, our own broker panel data: as an active credit broker processing applications with 250+ specialist lenders, we observe real-world rate quotes, approval decisions, and deal terms on a daily basis. This gives us a live, granular view of lending conditions across product categories. Our panel data is used for our rate indexes and quarterly business borrowing index.
Second, publicly available third-party data: for market-level statistics, we draw on published data from the Bank of England, British Business Bank, Finance and Leasing Association (FLA), UK Finance, Federation of Small Businesses (FSB), FCA, and Office for National Statistics (ONS). All third-party data is attributed to its primary source.
Rate index methodology
Our rate indexes are compiled from initial offer terms received on applications processed through the Spark Finance broker panel during the stated period.
Rate ranges represent the 10th percentile (lower bound) and 90th percentile (upper bound) of observed rates in each category. This means the ranges exclude the 10% of applications that received the most favourable rates and the 10% that received the least favourable rates. The ranges are intended to represent the typical experience rather than the best or worst possible outcome.
Categories are defined by the characteristics that lenders use to segment their pricing: LTV, credit quality, trading history, asset type, or similar. The specific criteria are described in each index.
Rate indexes are updated quarterly. Updates incorporate the most recent three months of application data and remove data older than 24 months to ensure currency.
- Rates shown are initial offer terms, not necessarily completion rates (which may differ after full underwriting)
- Outlier applications (very large facilities above £5m, or highly specialist situations) are excluded from indexes
- Applications from brokers other than Spark Finance are not included (our data reflects our specific panel and client base)
- Self-selection effects apply: businesses that approach brokers may differ from those that apply directly to lenders
Limitations of our data
Our data reflects Spark Finance's experience as a broker, not the market as a whole. The businesses that approach us may differ systematically from the broader SME population. Our lender panel, while broad, does not cover every lender in the market.
Rate ranges are indicative only. The range that applies to any individual application depends on that application's specific characteristics. A business at the prime end of the credit spectrum may achieve rates below our lower bound; a business in a high-risk category may face rates above our upper bound.
Market statistics cited from third-party sources should be verified against those primary sources before being relied upon for business or investment decisions. We endeavour to cite the most current published data, but survey data and market statistics are typically published with a lag of 6-18 months.
Our research reports contain estimates and analysis that involve judgement. Where we have made analytical assumptions, we describe them. Readers should treat our market estimates as informed views rather than precise measurements.
Currency and update schedule
Rate indexes: updated quarterly (March, June, September, December).
Research reports: updated annually or when material market changes occur.
Product pages and guides: reviewed quarterly; rate information updated when lender pricing changes materially.
All published content carries a last-updated date. If content appears significantly outdated, please contact us at info@sparkfinance.co.uk.
Contact and corrections
If you identify an error in our data or methodology, please contact us at info@sparkfinance.co.uk. We review all data correction requests and publish corrections where warranted.
For academic or research purposes, we are happy to discuss our data methodology in more detail. Contact us with the nature of your research and what data you require.