To start off this Business Finance Bulletin we take a look at a new milestone achieved by the Start Up Loans Company in terms of the volume of loans disbursed. However, the question is being asked as to how much this government scheme has lost in the form of written-off loans and those that have fallen into default.

According to latest figures from the Asset Based Finance Association this sector, which covers invoice discounting and asset finance, has also reached new heights with a record amount of business being written in the 12 months to June.

What about business confidence post the Brexit vote? We take a look at how business owners are feeling about their prospects and what you should do now in case the mood changes.

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.

In our dealings with growing businesses on the search for finance it’s always surprising how many still believe that outside the traditional High Street banks there are few alternative options to consider.

When we mention crowdfunding, short term loans, merchant cash advances and other alternative sources of finance, there is typically a vague acknowledgement that they have heard of such sources but nothing beyond that.

This lack of appreciation that there are sources of finance to tap into outside of the banks has been highlighted in a recent survey carried out by the British Chambers of Commerce and Bibby Financial Services.

The survey of more than 1,000 businesses provides an interesting insight into awareness levels of the primary sources of finance. Perhaps not surprisingly, awareness of overdraft facilities came out top at 93%, even though banks are not as keen in extending overdrafts as they once were!

Next on the familiarity chart are bank loans and commercial credit cards with awareness levels of 88% and 86% respectively. The growth seen in the usage of leasing and HP since the credit crunch is reflected in an 86% awareness levels amongst UK SMEs.

What sources of finance are languishing near the bottom of the pile though?

Trade finance facilities were known by 46% of businesses, peer-to-peer funding by 42% and angel funding by 39% of those surveyed. Propping up the sources of finance list standing at 19% awareness levels is mezzanine finance (a hybrid of debt and equity). No surprise there perhaps!

Despite what you may think there are a plethora of options available but the key problem is that you simply don’t have the time to search the market for the best options.

In fact, one of our clients this week said that they prefer to use us to source finance because we immediately know where to go thereby saving them time. That where commercial finance experts come in.

One other interesting finding from the survey was that of those firms which were successful in securing finance but ultimately rejected the offers, 54% did so because the interest rate offered was too high.

The main question though is ‘too high compared to what?’

Alternative finance is by its nature typically more costly than traditional High Street lenders due to the higher level of risk and the lower standard of security they are prepared to consider. For the alternative finance industry, the next step after raising awareness levels amongst business owners, is to resolve the pricing perception.

Our advice to clients is as long as the finance available to you allows you to achieve what you want to do, benchmark it in the market to check it’s not too wide of the mark, then look beyond the price and get on with building your business.

I hope you found the latest editions of the Business Finance Bulletin ‘Brexit Special’ of interest, particularly the five steps you can take to future-proof your business.

In case you missed it you can view it again here:

‘Business Finance Bulletin: The Brexit Special’

One question I was asked last week was whether banks and other lenders are still lending and the answer is simple… yes.

The events of the last two weeks are not a re-run of 2008 and so whilst business investment plans may be under review (as I discussed in the Bulletin), finance is still very much available.

If you have an idea and the only piece of the jigsaw puzzle that’s missing is finance, your options include:

• Commercial mortgages for property purchase
• Short term loans to boost cashflow
• Asset finance to purchase vehicles, plant or equipment
• Crowdfunding for loans up to five years
• … and other finance facilities

Accessing finance is down to planning. That means searching the right finance option for you in good time, preparing a proposal document or Business Plan and ensuring that your financial information is up to date.

Do all this and you’re well placed to get the finance you need.

Of course, if you want to chat through the options available to you, the BLS team will be more than happy to speak to you, just drop us a line or give us a call.

In this Business Finance Bulletin episode, we start off with news from Funding Circle of a £100m facility from the European Investment Bank for onward lending to UK small businesses. The facility will sit alongside an investment to be made by Funding Circle’s SME Income Fund.

Another growing source of alternative finance is that of asset finance. We look at the latest figures from the Asset Based Finance Association which reveal that facilities extended to small businesses over the last 12 months have dramatically increased.

Cash is the lifeblood of all businesses and a survey from audit and taxation consultants RSM has found that businesses can release cash trapped in their business by better management of day-to-day working capital. I share one key working capital component where cash can often get stuck. In the Bulletin I also reference another video in which I share how you can calculate your Stock Turnover Ratio – a useful tool to spot when your stock is getting ‘stuck’.

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.

In this Business Finance Bulletin, we have review of the proposals coming out of the Competition and Markets Authority report on how banks can improve services provided to its small business customers. The proposals range from enhanced transparency and the creation of a pricing comparison website.

We look at a survey which reveals how procurement managers are tackling late payment by using dynamic discounting to encourage faster payments or even payment up front. We share one way you can take advantage of this strategy.

Latest statistics from the Finance and Leasing Association show strong growth in the asset finance sector which as we report, put the banks to shame.

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.

In the latest episode of the Business Finance Bulletin, news from Santander on its collaboration with online lending platform Kabbage. The alliance will allow Santander’s small business customers to apply for loans online to speed up the lending process and is a nod to the success of the online lending revolution.

The government’s plan to help alternative finance providers has been boosted by banks now being required to share borrower credit information with three credit reference agencies. This increased transparency will allow alternative lenders to make more informed decisions when supporting small businesses.

The asset-based finance industry continues to go from strength to strength with the latest figures from the Asset Based Finance Association showing continued growth in 2015.

In the Business Finance Tip of the Week, why you should be negotiating with your suppliers to ensure you get the best deal and tips from negotiation expert Derek Arden on negotiating with your bank.

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.

In the latest episode of the Business Finance Bulletin, news that the number of High Growth Firms is on the increase according to findings by the Enterprise Research Centre.

We take a look a new business loan fund launched by a regional lender, Coventry and Warwickshire Reinvestment Trust, aiming to support growing businesses in their locality.

There’s news of support being given by British Business Bank to an alternative lender to help boost funds for on-lending to businesses in need of asset finance.

Staying with asset finance and leasing we take a look at statistics from the Finance and Leasing Association which reveal strong growth in the sector in 2015.

And in the Business Finance Tip of the Week a look at a series of forthcoming videos in which Rob Warlow will be sharing insights into ratios you can calculate to help boost the performance of your business.

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.

In this episode of the Business Finance Bulletin a look back at 2015 in the alternative finance and crowdfunding market. The latest annual report from NESTA, Pushing Boundaries, provides an insight into how crowdfunding continued to grow in 2015.

If you are looking for an asset finance facility to fund your growth plans there’s news of a funding boost for the alternative lender LDF provided by the British Business Bank.

Xero, the cloud accounting software service, asked business owners what they thought the key ingredient for a successful business is. The entrepreneurs also shared their top three business pain-points. Do you suffer from any (or all) of these three barriers to growth?

And in the Business Finance Tip of the Week when to comes to raising business finance, what influence do past business successes or failures have?

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.

In the latest episode of the Business Finance Bulletin Rob Warlow shares the latest government figures on the number of businesses operating in the UK. The numbers reveal strong growth in new starts and those businesses employing staff.

Latest figures from the Finance and Leasing Association on the level of new business being written by asset finance providers also show strong growth. Rob looks at one type of asset being financed which is proving popular.

Sufficient working capital can be a constraint for a growing business and Rob looks at a survey focused on what is holding businesses back in terms of finance.

And in the Business Finance Tip of the Week Rob shares a tool you can use to assist in spotting red flags in respect of cashflow. This tool, referred to as a Debtor Collection Ratio is a calculation taken from your Balance Sheet which provides a useful guide as to how long it’s taking you to collect payment from your customers.

If you prefer listening to the podcast version you can click below or download it (and other episodes) from our Soundcloud or itunes page.

In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow tackles the age-old problem of late payment. Rob looks at recent research from the Association of Chartered Certified Accountants (ACCA) which reveals the extent of the problem and possible solutions.

Many businesses don’t realise that to help offset the costs of the impact of late payment they are allow to charge interest and Rob shares news from Lovetts, the debt recovery firm, on how awareness of this right is on the increase.

Unlike bank lending asset finance continues its growth as more businesses turn to this alternative source of finance. The latest statistics from the Asset Based Finance Association show just how popular it has become.

In the Business Finance Tip of the Week Rob looks at the benefits of planning ahead and getting ‘finance-ready’ well before you need to approach a lender.

You can also listen to the podcast version of this week’s Bulletin by clicking below or downloading via our Sounndcloud or itunes channels.