Seven out of ten SME businesses are choosing not to finance through a bank, it has been reported by the British Business Bank, with one of the biggest reasons being the fear of being declined.
This shift to alternative finance, such as peer to peer loans – also known as P2P – often opens up lending options to small businesses at a time when traditional banks aren’t able to help.
Specialist lenders are being sourced more than ever before. Last year saw a huge increase in the shift to brokers and specialist lenders for financing, for example, peer-to-peer lending increased by a staggering 51% - equating to £1.8bn!
The popularity in peer-to-peer lending is massively on the increase – one of the biggest reasons is that the rates are extremely competitive and favourable to those offered by traditional means. It matches borrowers with investors through a lending platform. It allows for SMEs to secure lending with businesses that actively support the UK business market.
Navigating P2P finance can however be tricky. That’s why it’s so important to look at using a trusted broker to steer a business wisely and independently.
As the UK’s only truly independent broker, and experts in peer to peer lending, we’ve been market leaders for over 25 years. We are renowned in the industry for our empathy, understanding and knowledge of the small and medium business market needs.
So trusted are we, that many banks pass their customers to us when they are unable to help, knowing that we will be able to secure lending for them – because it’s not that banks don’t want to help, it’s because sometimes they just can’t. Much of our business is via is referred recommended by professionals such as Banks, Accountants and Business Advisors.
Our expertise and experience means we have contacts across the whole of the markets; with our relationships with traditional and alternative lenders is highly regarded in the industry. As a result, our process and applications times for our customers are far quickerthan them going direct.
What’s more, often the rates we are able to negotiate are far more competitive because of our accurate matching system – matching you with the right lender for your finance needs, whether that’s...
For more information on how Capital Corporate Finance can help your business through invoice factoring, peer to peer lending and banking, including overdrafts, cashflow loans, unsecured and secured loans and mezzanine finance, get in touch. Call 07785 596053 or email carole@capitalcorporate.co.uk
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
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