When bank lenders turn business owners away, they should refer them to alternative finance lenders instead. But how does it work?
Alternative lending such as peer-to-peer is here to stay, declared credit experts, but warnings associated with risk have been made.
George Osborne, the chancellor, today announced that the Government will introduce new rules to force banks to offer to refer rejected business customers to alternative funders.
Forty Community Development Finance Institutions (CDFIs), which lent to a total of 10,000 businesses rejected by banks last year, have joined the burgeoning ranks of Alternative Business Funding (ABF), a collaboration between Britain’s biggest alternative funding providers.
Almost one third of microbusinesses has been turned down for bank funding, leading to problems with cash flow and missed business opportunities, according to research released today.
British businesses are being held back by a £4.3bn funding gap, according to Populus research carried out for Nicola Horlick’s new P2P loans platform Money&Co.
There's a host of online platforms out there aiming to help SMEs compare finance. Here's a round up of a few of the most prominent.
Since the financial crisis back in 2008 bank finance has been a difficult thing to come by for a lot of small and medium businesses.
The UK's seven biggest providers of alternative finance have joined forces to launch a new platform for small and medium business funding.