Atom Bank is a relatively new, digital-only, challenger bank. In this edition of the Business Finance Bulletin we look at a £30m investment made by the British Business Bank, which Atom will be using to support small businesses.
The Queen’s Speech contained news that the government intends to introduce the Goods Mortgage Bill which will provide additional comfort to asset-based finance providers lending to sole traders and partnerships. The new Bill will help these trading entities better access services such as invoice discounting.
To close, we have another example of how small businesses are bypassing the traditional High Street lenders to obtain finance. We look at an announcement from PayPal that its Working Capital loan product has hit a new milestone in terms of money lent and the number of PayPal business customers which have successfully accessed finance.