Alternative finance providers

Small Businesses Seek Alternative Finance as Banks Turn Them Down

Small Businesses Seek Alternative Finance as Banks Turn Them Down

UK small businesses are looking towards alternative sources of finance as too many are being turned down by traditional lenders, according to a report by Amicus. A survey of 400 small enterprise owners found 16% of those seeking finance had been previously turned by a mainstream lender – a figure up from 11% in 2015. 31% of respondents claimed their inability to obtain finance from a traditional financial institution meant they had lost out on a business deal or investment opportunity with 15% believing they don’t make quick enough decisions. 12% highlighted inflexible lending conditions while 8% said insufficient knowledge and experience was a reason for them losing faith in traditional banks. As a result, small businesses are increasing looking at alternative forms of finance such as pro... »

UK Alternative Finance Market to Double in Growth in 2015

Alternative funding provided over £1.2bn in finance to 7,000 UK small businesses this year Alternative funding to small and mid-sized businesses is on track to reach £1.74bn by the end of this year, with predictions that it will increase by more than double to £4.4bn by the end of 2015, according to a new study. The research, which is the largest alternative finance study to date, found that in the first three quarters of 2014 alternative finance platforms enabled investment of £1.2bn to over 7,000 small and medium firms. The report revealed that peer-to-peer business lending was the most popular form of alternative finance totalling £749m, followed by peer-to peer consumer lending which equalled £547m. Equity-based crowdfunding was another popular option in 2014, up 201% to £84m. Publishe... »