In a recent article in the Times (9 May 2018) James Hurley talked to Aaron Flanagan who borrowed £25,000 from an online lender to fund the expansion of his comic book business.
Aaron says the high interest rates and “intense” application process which comes with a traditional small business bank loan was a deterrent for him.
The ability to use data to assess credit risks is leaving banks with legacy IT systems at a disadvantage, Alex Brazier, an executive director at the Bank of England, told MPs last month.
With a range of funding options available to small business owners these days, the traditional lenders are becoming less relevant.
With demand for alternative finance likely to increase as we move further into 2018, what is essential is that SME’s choose a specialist adviser who can recommend the right financial products for their specific business needs.
Our partner business, BM Structured Finance, specialises in sourcing and restructuring debt finance for SME businesses. We match the most suitable products to each individual circumstance and work together to ensure compatibility and satisfaction, thereby enhancing the business’ cash flow liquidity and facilitating maximum growth.
Whether you’re a start up or a well-established business, cash is king and managing its flow is crucial to your long-term success. For more information about how BM Structured Finance can help you and your business, contact Simon Belton or your usual Beavis Morgan Partner.