A web portal has been launched with the aim of pointing users in the direction of the most appropriate non-bank funding source.
The site, alternativebusinessfunding.co.uk, was launched on 11 March by seven alternative finance providers – CrowdCube, Funding Circle, Market Invoice, Platform Black, Seedrs, Zopa and Pensionledfunding.com, which account for around 85 per cent of the alternative funding market.
As well as aiming to make it easier for business owners to find the finance they need, the site is also designed to provide a place for banks to redirect customers who do not meet their lending criteria.
The site offers a range of finance options, including crowd-funding, peer-to-peer lending, invoice financing and pension-led funding.
However, it is still important to ensure you seek the right advice before entering into any sort of lending agreement. At Milsted Langdon, our corporate finance team have a wealth of experience in helping businesses of all types access the funding they need, including from alternative non-bank sources. For further information on how we can help, please contact us.