SMEs count the cost of missed opportunities
Posted on 22nd November 2019
If you head up an SME, then you’ll know that genuine opportunities for business growth don’t come along every day. So, when one does, it’s crucial you are able to act quickly before the chance is gone.
Sadly, when looking for finance to fund growth, it’s all too common for business owners to fall foul of two major pitfalls. The first is approaching a bank.
At this present time, it’s fair to say that banks have lost their appetite for business lending. And when they are willing to lend, the speed with which they can turn around a request is limited by having one central credit department. Weeks can go by before funds reach the SME and that can be too late.
The second pitfall for business owners is not thinking outside the box when it comes to where the finance could come from. Lacking awareness of alternative lenders can seriously limit an SME’s growth potential.
Alternative finance providers have cemented their place in the marketplace by being flexible business partners that operate less strict criteria. They are also more responsive and, in most cases, provide better customer service.
Lending to SMEs from alternative providers now stands at around £15bn a year and that figure will continue to rise as more and more SMEs open up to the possibilities. That’s where we come in.
At Fresh Thinking Capital, we specialise in supporting businesses across the UK make the most of opportunities. We proactively help SMEs and entrepreneurs without being constrained by the timescales and risk aversion of banks and other lenders. Using the expertise of our team, we always look for a solution to deliver the funding required.
If your SME is ready to move on an opportunity, talk to us today about how we can help make it happen.