SME lending slumps by £200m in July amid Brexit uncertainty

LENDING to small businesses in July slumped by £200m from the previous month, new figures from the Bank of England show.

The statistics, released on Tuesday, showed that the annual growth rate of small- and medium-sized enterprise borrowing came in … Read More

SME borrowing declines amid Brexit uncertainty

SMALL businesses are borrowing less, which could threaten their future growth, the Federation of Small Businesses (FSB) has warned.

New figures from UK Finance on Thursday showed that bank lending to non-financial businesses fell by £698m in July.

And the … Read More

SMEs’ financial health falls to lowest level in three years

THE CONDITIONS for UK small- and medium-sized enterprises (SMEs) deteriorated to the worst level in three years in the first quarter, new research has shown.

The inflation rate is outstripping wage growth and hampering consumer spending, while the weak pound … Read More

P2P platforms predicted to shift to hybrid models

UK PEER-TO-PEER lending platforms are poised to shift towards hybrid models to stay afloat, a financial services think tank claimed on Monday.

The P2P industry has re-shaped the country’s small corporate funding and investment market, putting pressure on traditional lenders to … Read More

Growth Street’s interest rates drop

GROWTH Street’s interest rates have dropped for the first time since the platform opened to retail money at the end of last year, underpinning a surge in investor demand.

The alternative finance platform, which channels funds to small- and medium-sized … Read More

Funding Circle: UK SMEs set to back Tory leadership

SMALL British businesses are three times more likely to vote Conservative than Labour in the upcoming general election on 8 June, a survey by Funding Circle found.

A vast majority of the 2,300 firms interviewed by the country’s third largest … Read More

Three in four UK SMEs oblivious of asset-based finance despite sales boom

THREE in four UK small- and medium-sized enterprises (SMEs) continue to miss out on non-bank funding despite record sales of asset-based finance, new research claims.

While fresh figures from the Asset Based Finance Association (ABFA) revealed that asset-based lenders arranged … Read More

UK consumers and businesses shrink their borrowing ahead of Brexit headwinds

CONSUMER and business borrowing has taken a dip in the run up to Brexit negotiations, with both households and companies set for further bumps in the road over the next few months, economists have warned.

Figures released by the Bank … Read More

RateSetter partners with accountancy advisor TaxAssist

RATESETTER has partnered with TaxAssist Accountants to boost its SME borrower network.

The accountancy firm, which provides advice to small businesses through 290 branches across the country, will refer businesses requiring working capital and growth finance to RateSetter’s business finance … Read More

Business appetite for P2P loans has fallen, says NACFB chair

UK BUSINESSES are using less peer-to-peer funding as awareness of the sector has “started to plateau”, according to the head of the National Association of Commercial Finance Brokers (NACFB).

Data from the trade body found that business financing from P2P … Read More