The survey of more than 500 small firms carried out by ICM for Everline, the short-term business lender, found that nearly half (48 per cent) of business owners have cashflow concerns, with 29 per cent finding them to be a restriction on growth. One in five of respondents suffers cash shortage at least once a month. Russell Gould, managing director of Everline, said: ?There?s clearly significant demand for short term credit from small businesses, but our research shows they lack confidence in traditional lenders. ?Those who do decide to apply for a loan are made to jump through hoops to get access to funds, which are often less than ?25,000. If they?re accepted, the credit provided is usually more suited to bigger businesses ? for fixed periods and with little flexibility.? One fifth of those who have experienced cashflow problems in the past two years has applied for a loan but half of those have been rejected or are still pending. Image source
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.