Posts Tagged ‘alternative finance’

Aldermore Bank’s 10th Anniversary, Personal Guarantee Insurance and Late Payment Call Out- BFB 259

Posted on: May 25th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

The credit crunch in 2008 was the start of the rise of the so-called Challenger Banks. This month, one of those early entrants, Aldermore Bank, celebrates its 10th anniversary. To open our latest Bulletin, we take a look at Aldermore’s achievements over the last 10 years.

When borrowing via a Limited Company, one downside is that lenders expect Directors to provide Personal Guarantees. Many can be reluctant to sign and in some cases it’s enough to put them off borrowing. However, that risk can be offset by taking out a Personal Guarantee Insurance policy. We take a look at how it works and where you can obtain such a Policy.

To close this Bulletin, news from The Small Business Commissioner that it has named-and-shamed another high profile business for its late payment practices. Another success story for the Commissioners Office with £32,000 paid following its intervention.

Brexit Opportunities, Benefits of Making Tax Digital and Awareness of Non-Bank Finance – BFB 252

Posted on: April 6th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Despite an increase in the level of uncertainty among small business owners, primarily caused by Brexit, there are some who are feeling more positive about the future. We open this Bulletin with findings from a survey of fast growth businesses which reveals the opportunities they feel Brexit will bring.

The start of April 2019 heralds the introduction of Making Tax Digital. Whilst some businesses see it as a distraction and additional administrative costs, there are benefits to embracing this new way of engaging with HMRC.

To close this Bulletin, a look at findings from Growth Street, a Peer to Peer lender, of how many entrepreneurs are still unaware of the sources of finance outside the main High Street banks.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

RBS Account Switching Incentive, PayPal Business Loans and SME Growth Priorities – BFB 248

Posted on: March 9th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

We open our latest Bulletin with news of another tranche of money released as part of the RBS bailout package. Designed to improve competition in the small business banking market, eleven banks have the opportunity to incentivise small business owners to switch from RBS.

Paypal may not immediately jump to mind as being an alternative lender but since 2014 their Working Capital loan product has been a life line for small businesses in need of finance. Available only to Paypal clients, we look at how loan usage has jumped over the last 12 months.

Despite everything going on politically and economically, a new survey from Hitachi Capital reveals that many small businesses are planning growth. What are their top three growth priorities?

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Alternative Finance & Institutional Investors, Cost of Late Payment and Open Banking – BFB 239

Posted on: December 15th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

When the alternative finance providers entered the market to satisfy small businesses demand for finance, it was personal investors who provide the cash. We are now seeing institutional investors taking serious interest in the sector with announcements of tie-ups from Funding Circle and Thin Cats.

As well as holding back growth, late payment can have a costly impact on small businesses. BACS, the payment service provider, has taken a look at how late payment can affect small businesses, both in terms of cash and other knock-on effects.

To close this Bulletin, news from short-term lender Iwoca, which has announced agreements with another two major High Banks to utilise the benefits of Open Banking. Another step forward in speeding up access to finance.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Funding Circle Boost, Business Borrowing Appetite and Alternative Finance Growth – BFB 237

Posted on: December 1st, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

To open this edition, we look at the announcement from Funding Circle, the business peer-to-peer lender, that the British Business Bank is to provide £150m for on-lending to UK small businesses. This second tranche of from the bank is set to support approximately 2,000 businesses.

The latest figures from UK Finance, the banking industry’s trade body, reveals that small business appetite to borrow is still on the wane. The fall in borrowing from the banks has tuned into businesses seemingly hoarding cash with a jump in amount of money held on deposit.

To close, positive news in a recent report by the Cambridge Centre for Alternative Finance which points to a continued rise in lending provided by the alternative finance sector. But it’s not only the supply of debt on the rise; equity facilitated by specialist platforms has also seen an increase.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Just Cashflow Export Advice, Barclays Mobile Invoicing and Starling Bank, Post Office Tie Up – BFB 235

Posted on: November 17th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

With a drive to boost the number of businesses exporting, a survey from alternative finance provider Just Cashflow has revealed a lack of knowledge is holding businesses back from taking the export leap. To close the gap, we look at an announcement from Just Cashflow of an initiative to support businesses wishing to export.

Administration tasks, such as invoicing and follow-up, can divert business owner’s attention. To ease the burden Barclays has launched an add-on to their Mobile Banking App which allows customers to create, track and reconcile invoices.

Whilst High Street banks are busy closing branches, mobile-only bank Starling has revealed a collaboration with the Post Office, which will make Starling’s services more accessible.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Peer-to-Peer Lending Continues to Grow

Posted on: September 28th, 2018 by blsuser1 No Comments Tags: , , , , , , ,
Posted in Business Finance News

The alternative finance market continues to power ahead in terms of support provided to businesses and individuals. The latest figures released by the Peer-to-Peer Finance Association (P2PFA) reveals that the peer-to-peer lending industry lent £750 million which brings the total lent by its members to just under £10 billion.

The P2PFA was established in 2011 as a representative and self-regulatory body for peer-to-peer lending in the UK. There are 8 members of the Association being Crowdstacker; Folk 2 Folk; Funding Circle; Landbay; Lending Works; Marketinvoice; Thin Cats, and Zopa.
The Association has reported that new member’s lending to businesses and individuals has grown by almost £100 million quarter-on-quarter over the last year.

To demonstrate how peer-to-peer is now going mainstream, the Association has highlighted that net lending (defined as total lending minus repayments) of £191 million over the same period was greater by £60 billion than the combined net lending of the major high street banks which stood at £130 million.

On average, three quarters of the lending support UK small businesses. The disparity between the P2P lenders and the traditional High St banks is further highlighted by the latest figures from UK Finance which show that in the 12 months to August 2018, bank lending to businesses fell by 2.1%.

The P2P sector continues to fill a gap being left by the banks and no doubt has been a lifeline for many small businesses.

Business Borrowing Appetite, Finance Collaboration, and Company Failures – BFB 224

Posted on: July 21st, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

To open this Bulletin, we review findings from the latest SME Finance Monitor Report which reveals a continued fall in the number of businesses looking to borrow money. The spectre of Brexit and a general uneasiness about the economy appears to be haunting business owners.

For those businesses which are looking to borrow then easily finding a finance source can be time consuming; that’s where collaboration between operators in the finance sector can help. We look at how Starling Bank and Growth Street is one example of businesses joining forces to improve access to finance.

To close, Creditsafe the company credit rating agency, has issued its latest 3-monthly review which highlights a startling increase in both the number of corporate failures and bad debts. At least the report contains one bit of positive news to close this Bulletin!

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Government Late Payment Consultation, MarketInvoice on Nat West Panel and Asset Finance Growth – BFB Epsd 210

Posted on: April 14th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Following the announcement in the Chancellor’s Spring Statement that the government is looking at ways of tackling late payment, it has announced the launch of a consultation paper. The government is looking for input on its plans to address late payment amongst businesses awarded government contracts. Do you have any thoughts?

Where it can’t assist, to continue signposting businesses to alternative lenders, Nat West has announced MarketInvoice as the ninth addition to its Capital Connections panel. Being an online invoice discounter, MarketInvoice adds a new service to Nat West’s expanding panel.

Figures from UK Finance, the finance industry’s trade body, reveal that 2017 was a record year for businesses accessing Asset-Based lending. Looking closer at the figures, smaller businesses though really took advantage of this growing source of alternative finance. But is that the case in the first quarter of 2018?

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Opening a Business Bank Account, Triodos Crowdfunding Platform, ESME Loans – BFB Epsd 201

Posted on: February 10th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

One of the more frustrating aspects of starting a business, or even switching banks, is the stressful experience of opening a bank account. The Competition and Markets Authority, as part of its 2016 Banking Review, tasked banks with making it simpler. To start the Bulletin, we look at the outcome of that request with the release from UK Finance of new guidance on required documentation.

We share news from Triodos Bank, the Bristol-based sustainable and ethical bank, that it has launched its own crowdfunding platform. Projects which have an environmental and renewable focus will feature as available for support.

To close the Bulletin, we look at the announcement from Nat West that ESME Loans, an alternative lender, has joined the bank’s Capital Connections panel. The panel is a list of approved lenders who may be able to help businesses in need of finance where the bank can’t support.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

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