SMEs: What to do when regular lenders won’t lend a hand

By freshthinkingcapital

Posted on 17th October 2019

Small and medium-sized enterprises (SMEs) are the backbone of the UK economy.

 

The National Federation of Self Employed & Small Businesses (FSB)1 stated that in 2018, SMEs accounted for at least 99.5% of the businesses in every main industry sector. They employ over 16 million people, which is 60% of all private sector employment in the UK.

 

Yet despite this, SMEs are finding it increasingly hard to borrow the capital they need.

 

A lack of understanding

A report by Close Brothers2 found that nearly half of all SMEs have experienced difficulty in arranging finance, with lenders frequently not understanding their particular sector. Worse still, a quarter of SMEs were turned down for finance at the point they were looking to grow.

 

What’s the alternative?

Smaller, more skilled lenders with relevant sector expertise are here to pick up the slack. Lenders like Fresh Thinking Capital. We are able to deliver more agile solutions. Being less risk averse, but staying true to responsible lending principles.

 

While some organisations look for reasons not to lend, we look for the positives, weighing up the pros and cons of every application we receive.

 

Business lending made easy

We’re a national brand with an expert team based across the whole of the UK, including Leeds, Birmingham, Manchester and London. We provide smart business funding to SMEs from £100k to £2 million to help them grab opportunities within a reactive timeframe.

 

Bringing the value to SMEs

If we lend to you, we’ll provide tailored advice around the transaction and come up with the best payment options for you. And if we can’t help, we’ll put you in touch with someone we know can.

 

We understand the value of SMEs. Talk to us today about how we can help your business grow.

 

 

References

 

  1. https://www.fsb.org.uk/media-centre/small-business-statistics
  2. https://www.closebrothers.com/system/files/press/Banking-on-Growth-Closing-the-SME-funding-gap.pdf