Posts Tagged ‘small business lending’

Demand for Small Business Borrowing Slips but Success Rates Are Up

Posted on: August 25th, 2017 by blsuser1 No Comments Tags: , , , , , , , , ,
Posted in Business Finance News

The latest ‘Voice of Small Business Index’ from the FSB for Quarter 2 to June 2017, shows that only 14 per cent of small firms applied for external finance in the three months to June.

The FSB commented that the low figures are being driven by lower investment intentions and confidence levels on the back of Brexit and economic uncertainty.

The survey comes out on the back of the latest statistics from UK Finance (the finance industy’s trade body) which revealed that bank lending to businesses fell by £698m in July.

However, it’s not all doom and gloom.

Thumb UpOf the 14% of businesses which said they had applied for finance in the three months to June 2017, the share of those successfully getting a ‘yes’ stood at 74% in the quarter, up from the 71% in the same quarter a year ago.

This also compares very favourably to the 54% seen in Q2 2015. So, the more growth-focused businesses are getting what they want.

The survey also shows that the lending landscape continues to evolve with continued evidence of diversification away from traditional bank lending. Among small businesses that had applied for credit, the share applying for bank loans declined from 39% in Q2 2016 to 23% in Q2 2017.

Where are small businesses going for their finance needs?

The survey reveals that the proportion using asset-based finance, such as invoice financing, has doubled from 17% to 34%.

Our message is that if you are in growth mode, there are plenty of finance options out there.

Crowdfunding Loans, HSBC SME Fund, Sources of SME Finance, & KYC – BFB Epsd 118

Posted on: April 22nd, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In this Business Finance Bulletin how has the crowdfunding and Peer to Peer lending sector performed in the first quarter of 2016? The latest figures from the Peer to Peer Finance Association reveal solid growth on the same time last year.

HSBC are the latest bank to pledge increased support to SMEs with the announcement of a pot of cash ready to lend. We also look at HSBC’s online lending application platform to help businesses get quicker answers. Taking a leaf out of the crowdfunder’s book?

What sources of finance are small businesses tapping into and what keeps them awake at night? That’s a question asked by Hitachi Capital in its recent small business survey. The answer to the cause of sleepless nights may not be a surprise.

In the Business Finance Tip of the Week, when a bank says it’s for ‘KYC purposes’, what does it mean?

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.

Atom Bank, Lloyds SME Charter, Business Confidence & Overtrading – BFB Epsd 117

Posted on: April 17th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In this episode of the Business Finance Bulletin a look at Atom Bank, a new online-only bank which has announced that it is now targeting small businesses following approval of its SME lending service.

Back to the traditional High Street banks, Lloyds Bank has announced the launch of it 2016 SME Charter. Their pledges include support for new businesses wishing to start exporting and targets in terms of lending to small businesses.

Recent Bulletins have featured surveys reporting that small business confidence is on the wane but in this Bulletin we share positive findings from the latest Bibby Financial Services SME Confidence Tracker, which counter previous negativity.

In the Business Finance Tip of the Week, we look at what overtrading is and how you can tackle it.

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.

Santander Business Finance, Credit Information Sharing, Asset-Based Finance & Negotiation – BFB Epsd 116

Posted on: April 8th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

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.

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