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Until very recently, anyone looking for a business loan would have automatically turned to their bank, but this conventional route to finance is no longer the only source of funding for SMEs. The emergence of the alternative finance industry has transformed the way small and medium-sized businesses access capital. The fintech phenomenon sometimes…
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The latest FinTech50 list is out, and alternative finance providers and digital banks account for a fifth of its constituents. RateSetter, MarketInvoice and LendInvest have made this year’s list, while Funding Circle and Zopa have been awarded a place in the Fintech50 Hall of Fame. Alongside P2P platforms Zopa and Funding Circle, other entrants…
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The Government is promoting alternative finance, but it is the responsibility of providers to reach out to borrowers and educate them on the new finance solutions available says Chirag Shah, CEO, of Nucleus Commercial Finance, in a recent interview with the Telegraph. While this is the golden age of business having access to different…
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This month has seen a slew of authorisations granted by the Financial Conduct Authority (FCA), meaning that some of the bigger peer to peer (P2P) platforms, previously operating with only interim permissions have now become fully authorised. The newly authorised platforms include Funding Circle, ArchOver, and Linked Finance. The approvals follow an arduous 18-month…
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Since Institutional money arrived alongside retail investors on Peer-to-Peer (P2P) platforms the industry has been making strategic adjustments. Institutional influence is driving platform decisions, which, according to one industry expert, is causing a conflict of interest for investors. The proportion of Institutional money on the P2P industry is steadily increasing, in 2015 it…
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New data published shows that confidence among UK manufacturers has edged up slightly since last month yet businesses are still reluctant to take on debt finance. Economic and political uncertainty post the EU referendum weighs heavily on business owners and despite the weak pound driving international demand for UK goods, manufacturers are shying away…
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The alternative finance industry was given a boost last year when the UK Government mandated that loans applications rejected by high street lenders must be referred to alternative finance providers. The Bank Referral scheme has so far failed to make any impact and now, just months after the introduction of this finance match-making service,…
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New research reveals that UK and Irish business are increasingly turning to invoice finance. Data compiled by the Asset Based Finance Association (ABFA), an industry trade body, shows that invoice finance has reached an all-time high of £22bn of finance advanced to businesses at the end of the fourth quarter of 2016. This is…
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More players in the Peer-to-peer (P2P) industry are adding credit insurance to loans as a way to mitigate the risk of default. While some platforms have made credit insurance a key part of their business model, the practice is becoming more widespread as the cost of credit insurance is becoming cheaper. Lisa Humphries, a…
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The head of the British Business Bank (BBB) has said that the small- and medium-sized enterprise (SME) finance market is now realising the benefits of the additional choice of lenders, such peer-to-peer (P2P) and other alternative finance providers. Keith Morgan, chief executive of the state-backed institution, said the alternative finance industry is “starting to…
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