Posts Tagged: British Business Bank

Loan Rejections Cost SMEs £4bn Per Year

The British Business Bank (BBB) says businesses are being prevented from reaching their full potential because of the big bank’s continued refusal to fund small businesses. The high street banks favour lending to larger businesses with a track record of profitability.   Thousands of small businesses are refused loans and the BBB estimates the figure…

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Bank Lending Falls, Not Driven by Switch to Alternatives

Small businesses are borrowing less, which could threaten their future growth, the Federation of Small Businesses (FSB) has warned. A report last week showed that bank lending to non-financial businesses fell by £698 million in July and according to the FSB this drop is not driven by a switch to alternative lending.   The latest Voice…

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British Business Bank Reports Significant Expansion

The British Business Bank (BBB) has revealed its latest annual report and accounts and is celebrating a third consecutive year of steady returns. Overall, the Bank reported an operating profit of £49.8 million for 2016/17, with a total of £9.2 billion provided across all its small and medium sized enterprise (SME) projects. The bank says…

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P2P Is Here to Stay Says British Business Bank

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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Global P2P Market to Grow 52% Annually

The peer-to-peer (P2P) lending market was valued at $26,064 million in 2015 and is projected to reach $460,312 million by 2022, growing at a compound annual growth rate of 51.5 per cent from 2016 to 2022.   The growth prediction is from Research and Markets, who have announced the addition of a new title, Peer…

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Regional Awareness of Alternative Finance Lacking

  Awareness of alternative finance, which includes peer-to-peer (P2P) finance products, among SMEs, is at its lowest in the Midlands and the north of England, the British Business Bank (BBB) has revealed.   The BBB said that fewer than 40 per cent of firms in the Midlands were aware of P2P lending, compared with almost 60…

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Is The British Business Bank Behind The AltFi Boom?

Keith Morgan, chief executive of the government-owned and run British Business Bank (BBB), has made a proud claim that his organisation is behind the recent boom in the alternative finance sector. Undoubtedly, the AltFi industry has enjoyed a surge in popularity over the past 12-18 months. In 2014, the amount the sector had lent to…

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