Posts Tagged ‘business loans’

Younger Businesses Shunning High Street Banks

Posted on: August 20th, 2019 by blsuser1 No Comments Tags: , , , , ,
Posted in Business Finance News

The finance market is ever-changing particularly among younger, more modern businesses who are shunning the traditional High Street banks in favour of alternative finance providers.

This the finding of survey of 512 small businesses carried out by ThinCats, a fintech lender to mid-sized SMEs.

The survey found that of businesses less than ten years old, only 32% would consider their bank to be their first port of call. This contrasts with businesses over 35 years old where 71% would default to their main bank. When it comes to working with an alternative finance provider, 23% of younger businesses are more likely to feel comfortable with this approach compared to 4% of the oldest SMEs.

Not surprisingly, where decision makers were aged under 35, 65% said a traditional High Street bank was not the first place they would go for funding. This contrasts with decision makers aged 55 and over, where it was just under 30%.

Sectors such as IT, telecoms and marketing, which are traditionally knowledge or service-based are those leading the way in moving towards alternative finance providers.

Worryingly, 30% of SMEs who were rejected by their first-choice lender, stopped searching for external funding altogether. This suggests that many businesses, of whom 55% said high street banks were the first lender approached, are potentially giving up when there are suitable alternatives available.

This demonstrates that more still needs to be done to highlight the range of alternative finance providers in the marketplace.

Solving Summer Cashflow Blues

Posted on: August 16th, 2019 by blsuser1 No Comments Tags: , , , , , ,
Posted in Business Finance Tips

Summer time can hit cashflow hard. Here’s a solution to even out your summer cashflow blues. A Short Term loan can solve a temporary cashflow blip.

Raising Business Finance: Planning Ahead

Posted on: April 11th, 2019 by blsuser1 No Comments Tags: , , ,
Posted in Business Finance Tips

Businesses are accumulating cash due to political and economic uncertainty. Are you ready for when that money is released and hits the market?

Dealing With New Year Cashflow Problems

Posted on: January 7th, 2019 by blsuser1 No Comments Tags: , , , , ,
Posted in Business Finance Tips

The start of a New Year can have a negative impact on a company’s cashflow but at least there’s a solution….

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.

Sourcing Finance for Growth – Business Loan Services

Posted on: September 26th, 2018 by blsuser1 No Comments Tags: , , , , , , , ,
Posted in Business Finance Tips

Capital Expenditure: Cash or Finance?

Posted on: June 21st, 2018 by blsuser1 No Comments Tags: , , ,
Posted in Business Finance Tips

When it comes to capital expenditure, should you fund it via cash or finance?

Finance Guidance Portal, Iwoca Business Loans and Asset Finance Usage – BFB 219

Posted on: June 16th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

When searching for finance many business owners don’t know where to start looking. To help bridge the information gap the British Business Bank has launched a finance knowledge website. We open our Bulletin by looking at how the portal can help guide business owners to the right source of finance.

Iwoca has been known as a short-term loan provider but they have now announced a new 5 year loan product designed to provide medium term finance to growing businesses. Could you make use of a cash injection?

In recent Bulletins we have mentioned that the first few months of this year saw a decline in the use of Asset Finance. To close this episode, we review the latest statistics from the Finance and Leasing Association which reveal an increase in Asset Finance deals to purchase business machinery, equipment and vehicles.

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.

BLS Joins Funding Circle’s Business Champion Programme

Posted on: April 18th, 2018 by blsuser1 No Comments Tags: , , ,
Posted in Business Loan Services News

Business Champion Logo 122017-3
We’re delighted to share the news that Funding Circle, the UK’s leading debt crowdfunding platform, has formally invited Business Loan Services to join their Business Champion Programme.

The Programme is only opened to selected Finance Brokers and our inclusion to this exclusive group is a recognition of the high-quality clients we have introduced to Funding Circle during our association.

Our focus on supporting our clients, by investing time in understanding their business and assisting Funding Circle in their assessment by carrying out a thorough due diligence in advance of submitting a loan application, has been key to maintaining our high performing loan portfolio.

How does our inclusion on the Business Champion Programme benefit our clients?

The programme will bring:

Thanks to the Funding Circle team who have supported BLS over the years, including James Lovett, Dan Stanton and our current Manager Alex Austin.

Revolut Bank, British Business Bank Support and Business Confidence – BFB Epsd 208

Posted on: March 31st, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

To start our latest Business Finance Bulletin, news from Revolut Bank, an internet and mobile-only bank which we have not featured before. Revolut has announced forthcoming enhancements to its service offering which will provide wider benefits to its 16,000 business customers.

The British Business Bank, the government’s home for its finance programmes, has supported two more challenger lenders in their aim to broaden access to finance. Aldermore and 1pm will be using the finance schemes to widen the reach of their asset finance products.

Business confidence appears to be strengthening. That’s the message coming out from two surveys undertaken by the FSB and Lloyds Bank. However, there are still a number of factors holding businesses back when it comes to pursuing growth.

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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