Boom times for Funding Options: closing the SME funding gap
13 November 2015
Anthony Hilton highlights the critical economic importance of funding for SMEs in the Evening Standard.
First touching on one of our own favourite themes – the collapse of small business overdrafts, which have fallen more than £5m per day for the last four years – he then discusses the alternatives, where there are positive signs.
The recent change in thinking has led to a dramatic improvement in the relationship between alternative lenders and the traditional banks; Hilton highlights Funding Circle teaming up with Santander as a good example of this.
Another positive lies with the forthcoming Bank Referral Scheme: it is now written into government legislation that the large banks will be required to help find a solution for businesses they cannot fund.
With alternative lending holding such potential, it’s not only about partnerships between the banks and lenders, but brokers too. As an intermediary at the forefront of the government legislation, the team at Funding Options works hard to establish effective working relationships with both parties.
For instance, one of our Manchester team, Steve Richardson, was on the same day named introducer of the month by Funding Circle.
With an unprecedented breadth of lenders, Funding Options is fast becoming central to helping SMEs learn, grow, thrive, and create the jobs this economy needs.
To read Anthony Hilton’s article in full, click here.