In this episode of the Business Finance Bulletin Rob Warlow looks at the findings of the Competition and Market Authority review into the UK banking sector and its recommendations for easier SME banking.

What’s the difference in attitude towards alternative finance between relatively young businesses compared to more mature ones? That’s a question posed by Business Banking Insight and their findings suggest that older businesses need to look at alternative sources of finance just as their younger upstarts are.

Rob reviews a survey from crowdfunder FundBird on businesses appetite to borrow and what they are financing if they are successful in obtaining funding.

Staying with crowdfunding Rob looks at the news from Funding Circle of its entry into the European market with the acquisition of the German crowdfunding platform ZenCap.

And in the Business Finance Tip of the Week, a clip from a live seminar in which Rob shares insights into what should be included in a Business Plan written for the bank.

If you prefer to listen to the podcast version you can click below or download via our SoundCloud 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 this week’s episode of the Business Finance Bulletin finally some good news on late payment with the announcement from Tescos of a revision in its payment terms with their small suppliers. Could this be a start of a trend of big businesses listening to concerns around late payment?

Turning to the alternative finance scene news from single invoice discounter Platform Black on reaching a new milestone in terms of finance raised for growing businesses.

Have you ever had a Notice to Close your bank account? It can happen and Rob explains what you can do about it.
With the government keen to ensure finance companies are lending there’s news of a line of funding being granted by the British Business Bank to leasing and asset finance provider Hitachi Capital.

And in the Business Finance Tip of the Week a clip from a live seminar in which Rob shares his thoughts on the importance of knowing what your credit report reveals about you.

You can also listen to and download the podcast version of this Bulletin via our Soundcloud and itunes channel or listen in now by clicking below

In the latest episode of the Business Finance Bulletin Rob Warlow looks at a report from Liberis, a finance provider, on the issues growing businesses face particularly in terms of late payment and how you can avoid it.

The Seed Enterprise Investment Scheme is a little known scheme devised to help both start ups and investors make use of attractive tax breaks. Rob shares findings from a review as to how popular the scheme is and looks at the SEIS eligibility criteria.

Turning to crowdfunding, Rob has news from the Centre for Economics and Business Research which predicts that the amount of money accessed through crowdfunding will grow to a significant sum by 2020.

If you’re a VAT registered business you are probably familiar with the challenges of meeting the quarterly demand! Recent figures from finance provider LDF show a large amount of overdue VAT is outstanding to HMRC and in the Business Finance Tip of the Week Rob chats with Liz Maher from Centurion VAT in which she shares tips on managing your VAT risk.

If you prefer to listen via a podcast version you can download via our Soundcloud or itunes channel or listen in below.

In this episode of the weekly Business Finance Bulletin Rob Warlow examines current trends in late payment with news from the Asset Based Finance Association that despite improving economic conditions late payment problems are on the rise.

Continuing on the theme of late payment online accounting provider Crunch has identified within the world of self employment which businesses are best and worst when it comes to chasing payment. Are you one of them?

Locally run business loan funds are a useful source of alternative finance for smaller businesses and Rob looks at one fund run by Staffordshire County Council and the success it has had in supporting local businesses.

In the crowdfunding world Rob shares news from Market Invoice, the online invoice discounting solution, of another round of funding granted to it by the British Business Bank.

Despite a few hiccups lately in terms of growth and business confidence Rob looks at the findings of a survey from American Express Small Business Services which reveals that businesses are reporting strong growth and confidence for the future.

And in the Business Finance Tip of the Week a clip from an interview in which Rob talks about the typical cash contribution you have make to a deal to get your bank on board.

You can also listen to this week’s episode or download to listen to late via clicking below, or by visiting our Soundcloud or itunes channels.

In the latest episode of the Business Finance Bulletin Rob Warlow features ethical business lender Fair Business Loans and how after 10 years focusing on the London market they are spreading their wings to assist SMEs across the UK.

Rob reviews the findings from a recent Institute of Directors report on the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme, which reveal that more needs to be done to raise awareness of how both businesses and private investors can make better use of the schemes .

Turning to crowdfunding Rob shares news of a collaboration between KPMG and crowdfunding platform Invest Den designed to provide support and guidance to those SMEs looking to raise funding.

If you are already using an invoice discounting line Rob looks at a new facility, Liquidity Plus, from Close Bros which potentially can release up to 100% of an invoice; a useful boost if working capital is tight.

And in the Business Finance Tip of the Week a look at the difference between profit and cash!

If you wish to listen to the podcast version click below or you can download it via our SoundCloud or itunes channels.

There’s nothing more demoralising or agonisingly annoying than hearing the word ‘no’ from your bank.

What to do? Silently walk away shaking your head as you unceremoniously put your Business Plan in the nearest bin or do you decide to fight back because you feel your bank has misunderstood the opportunity?

If you’re a fighter, and you genuinely believe the bank has got the decision wrong, there is a way to get the bank to re-look at your request. Yet despite there being a formal appeal process many business owners don’t realise that such an avenue exists.

The Origins of the Loan Appeal Process

Back in 2010, during the depths of the credit crunch, the government spearheaded the formation of the Business Finance Taskforce. Made up of all the major banks the aim of the taskforce was to come up with actions to make access to finance easier.

One of the 17 actions was that each bank was required to establish a formal Loan Appeal Process whereby businesses which felt that the ‘no’ from their bank was unfair had a route to ask that their application be re-considered.

Who Can Appeal?

There are three key eligibility criteria which have to be met before a lending application appeal can be launched:

1. The company’s group turnover must be less than £25 million
2. The appeal must be made within 30 days of the decision being communicated
3. No previous appeal requests have been made in respect of the same application

The Appeal Process

If you have satisfied the eligibility criteria and you wish to appeal the decision you can request details on how to proceed directly from your bank, either via your Relationship Manager or by searching on the bank’s website.

Alternatively you can visit the Better Business Finance website and fill in the form with all your key details.

Once your appeal is lodge an independent team, which was not involved in making the original decision, will review your application. In carrying out the review of the original decision they may contact you for further information or clarification on certain points.

Typically the bank has to get back to you with an answer within 30 days of you lodging the appeal.

How Successful Has the Initiative Been?

In requesting each bank to establish its own Loan Appeal Process it was realised that the banks needed to be held to account to ensure the process was robustly implemented.

To fulfil this role Professor Russel Griggs an external, independent reviewer, was appointed to conduct regular on-site and off-site monitoring of each bank’s appeal process. Professor Griggs and his team report on a quarterly and annual basis and his findings have proved to be a useful insight into how banks are dealing with appeals.

Latest Loan Appeal Request Findings

The latest review covering the quarter from April to June 2015 revealed that there were 858 appeals of which 196 were successful. That equates to a 23% overturn rate and resulted in businesses successfully borrowing an additional £1.5m.

But how does the success rate compared to previous years?

In the latest report Griggs notes that in his first review for the year to March 2012 the overturn rate was 40% compared to 23% in the last quarter. On first glance it would appear that the banks are going backwards with fewer successful appeals. However, Griggs explains this apparent slippage by saying that the banks are now better at weeding out marginal applications early on by providing more proactive support. The outcome of this is that those applications which make it to appeal are more marginal and hence the overturn rate is declining.

So if you are at the receiving end of a rather blunt ‘no’ from your bank, and you feel that the decision is wrong, take control and start the loan appeal process.

In this episode of the Business Finance Bulletin Rob Warlow looks at the findings from the latest quarterly SME Finance Monitor report. The report highlights why you should never assume anything when dealing with your bank!

Turning to the asset-based finance sector Rob has news on how this form of finance continues to outpace the banks in terms of support to small businesses.

In the crowdfunding world Rob looks at the announcement from equity crowdfunding platform Crowdcube on a new milestone reached in respect of funds raised.

What are your confidence levels like about where your business is going over the next few months? Find out what business owners said when asked this question by Bibbys Financial Services as part of their regular SME Confidence Tracker.

And in the Business Finance Tip of the Week a clip from a live seminar in which Rob talks about why business owners hate writing business plans.

If you wish to listen to the podcast version (and our other business finance podcasts) tune in below or go to our SoundCloud and itunes channel.

In this episode of the Business Finance Bulletin Rob Warlow reviews the latest report on the banking sector’s Loan Appeal process which reveals how many businesses are successfully overturning a ‘no’ from their bank.

In the crowdfunding world there’s news from Funding Circle on a change in the way interest rates are calculated which should benefit both borrowers and investors.

Continuing on the topic of alternative finance Rob shares an announcement by card payment provider iZettle that it intends to start offering loans to its clients based on the volume of card business being transacted each month.

Where do you go to for advice? Rob looks at the findings from a recent survey which reveals one of the key sources business advice which may not be the best!

And in the Business Finance Tip of the Week a clip from an interview in which Rob talks about why the sector you operate in is important to the bank.

If you prefer to listen to the podcast version you can both listen and download by clicking below. If you are on itunes then you can access via our itunes channel.

In this latest episode of the Business Finance Bulletin Rob Warlow looks at an appeal from the CBI for the government to help medium-sized business access long term loans by introducing a number of new initiatives.

Rob shares findings from a new report which suggests that banks are now feeling under threat from the growing band of alternative finance providers with the solution being if you can’t beat them then join them!

To combat struggles that small businesses have in accessing invoice discounting facilities Rob has news about moves by the government to make it easier for businesses to release cash from outstanding invoices. Continuing the theme
of late payment Rob also outlines a useful service which can speed up payments due.

And in the Business Finance Tip of the Week Rob talks about why you need to think about the security you are prepared to offer your bank.

If you prefer to listen to the podcast version of this episode by either clicking below or downloading below via our SoundCloud page or on our itunes channel.