As history has shown us, the small players in big industries usually get a tough time of it. The same applies when sourcing finance, which, as we all know, helps these small businesses grow into large, successful ones. Almost a catch 22 situation.
The great news is, there is a growing market of lenders emerging, on a mission to put a stop to this. Together, pouncing upon a new government initiative to help SMEs raise finance, they have formed what we refer to as the ‘alternative finance’ sector – which is greatly disrupting the humdrum atmosphere of business lending.
This sector saw lending reach the £1bn mark during 2014, which shows how much prominence alternatives to mainstream lending have right now – and the government has finally recognised it.
Commonly referred to as the Small Business & Enterprise Bill, Parliament are in the process of passing regulations which would mean mainstream lenders have to refer rejected finance applications onto other lenders.
Not only have they put forward these legislations, they are encouraging intermediaries to step forward and help – which we believe is the final piece of the jigsaw.
Funding Options are very proud of the progress this sector has taken over the last two years and now is a time to celebrate for small businesses. Our aim is to provide non-biased advice and direction to SMEs, and our matchmaking tool is set up to do just that.
With such an array of options available now, you should never underestimate the value of expert advice; it is important to ensure you fully understand what is best suited to your business before diving head first into a finance product.
For more information on this visit our site or take a look at the market yourself at apply.fundingoptions.com