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FinTech in the UK is driving better access to lending and leasing

Access to capital can mean the difference between business longevity and business insolvency. Many UK businesses, particularly SMEs, either lack the access to capital or they find it takes a long time to secure funding from traditional offerings.

In the context of the digital economy, lending and leasing customers, such as manufacturers, retailers and logistic firms, expect to be able to request quotes seamlessly and in a timely manner. Customers don’t have the luxury of waiting for weeks which could cause issues within their supply chain and impact on the ability to fulfil current and future customer demands, or the payment of suppliers for services rendered.

According to a report by PWC (2017) the global asset finance market in 2015 was worth more than 3.9 trillion pounds. With the rise of disruptive non-banking entities providing competitive financing solutions, lending and leasing is becoming a high growth and highly competitive sector for traditional service providers to continue to play within.

There is a golden opportunity for traditional banking and finance institutions to tap into the lending and leasing market, however, a key challenge is that their systems are not fit for the digital age. This means that businesses go for the path of least resistance and choose a challenger offering, which are able to provide a quote in a matter of hours rather than days, weeks or months.

The prevalence of inflexible systems, manual processes, and siloed data management at traditional banks can lead to a high level of operational inefficiencies. There is a clear need to provision for an overhaul and consolidation of core IT infrastructure.

The key to providing an enhanced lending and leasing customer experience is to work with third party tech providers. By forming partnerships, banks are able to tap into digital technologies that can transform their processes to enhance customer experience. The provision of a multi-channel self-service, provides real-time business insights leading to greater productivity and flexible workflows.

A flexible IT architecture through the opening up of APIs is the key to achieving a competitive advantage, such as loan processing and collection, screening, credit scoring and underwriting all as one end-to-end process.

At the same time, financial technology is transforming the way entrepreneurs and SMEs apply for loans in the UK, driving greater equality to access financial products and to support their growth. These businesses are currently being under-served by traditional financial providers which may become irrelevant if they do not catch up with demand.

Small and growth businesses previously were at the mercy of local financial providers can now access a range of services including peer-to-peer lending, accounting software, financial management, insurance, and business valuation services – all as one complete offering.

Source: FinExtra

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Why don’t banks care about SMEs?

For a service sector dealing almost solely with numbers and structured data, the world of small business lending could not be better suited to disruption by digital machines.

But recently, Bank of England governor Mark Carney rightly pointed out that, despite small and medium sized enterprises (SMEs) facing a £22bn funding gap, almost half don’t plan to use external finance, citing the hassle or time associated with applying.

The governor announced that the Bank would therefore champion a data platform to help SMEs have an easier time when applying for credit. The vision builds on Open Banking, bringing together data from a wide range of sources including Companies House, HMRC, utility companies, and telecommunications firms.

With a single “data passport”, SMEs could easily apply for finance at dozens of providers with the click of a button.

So how has it come to the humiliating point that the industry’s own regulator is proposing innovations that could accelerate growth and improve customer service? What are the banks’ armies of IT and product development staff doing?

The governor’s comments underscore a failure by banks to embrace the digital economy and invest to keep pace with the changes happening to their customers.

SME owners don’t just expect their bank’s lending process to be as seamless as their personal loan applications – they also expect banks to recognise how the financial makeup of firms has changed thanks to the digital revolution. Most SME financing from banks is centred around equipment or property assets, but digital services firms have neither.

Innovative finance providers, including my own company, have already embraced the data sources that the Bank of England will promote to open up access to finance.

Powered by new data connectors like DueDil, TrueLayer, and Codat, we automate the analysis of public data, bank transactions, and accounting records to make it faster and easier to provide credit to small businesses. Since launching, we have facilitated over £100m of lending to growing SMEs, and are rapidly expanding our operations to help more businesses across the country.

So why haven’t traditional banks made similar investments in order to price loans in the digital age? In my view, the reason is simple: it is not profitable for them to do so.

Under Basel III – the global rules governing how banks are regulated – banks are directed to hold almost double the amount of capital against an SME loan compared to a buy-to-let mortgage, for example. Holding more capital means making less profit, so all else being equal, banks naturally double down on loans that require lower amounts, such as mortgages.

And so we have seen banks close branches, sack business lending sales teams, and fail to innovate, while instead channeling more lending into the unproductive housing market, rather than the productive SME economy.

While challengers and fintechs are happy to lead the innovation in business lending, without structural reform of banking capital rules, we are unlikely to see strong competition from banks.

This is a challenge that Carney’s successor must tackle if the UK is to unleash the full potential of its SMEs.

By Greg Carter

Source: City AM

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Government provides £200m for small firms as Brexit threatens EU funding

The UK government has handed over £200m to help support smaller businesses in the 2019-20 financial year as the future of European Union funding remains uncertain.

The Treasury announced today that it has made the cash available to the British Business Bank, which provides loans to small companies looking to increase in size through investment and venture capital firms.

Chancellor Philip Hammond suggested in the 2018 Budget that £200m could be made available “to replace access to the European Investment Fund [EIF] if needed”.

The EIF is an EU agency that has been a significant source of funding for small UK businesses that struggle to get credit, but Brexit means British firms look likely to lose access to this money over the long term. The Federation of Small Businesses (FSB) today voiced concerns over the loss of EU funding.

The Treasury said the money will be available from today and will cover this financial year. Further funding arrangements have yet to be made and will depend on Britain’s future relationship with the EU.

Venture capital and investment firms will be able to approach the British Business Bank, a public-private partnership, to bid for the extra £200m to invest in small UK firms.

Business minister Kelly Tolhurst said: “This funding, supported by the government-backed British Business Bank, will play a key role in supporting innovative firms access the finance they need to grow and thrive.”

British Business Bank chief executive Keith Morgan said: “We welcome HM Treasury’s confirmation today that this allocation of £200 million is now available to increase provision of much-needed scale-up capital for innovative businesses across the UK.”

The national chairman of the FSB, Mike Cherry, said: “The British Business Bank provides vital support for thousands of smaller firms – particularly in parts of the country where funding is hard to come by – so it’s good to see it receive another £200 million following the launch of the £2.5 billion patient capital programme last year.”

“However, with Brexit on the horizon, serious questions regarding future funding for a UK small business support network that’s heavily reliant on the EU remain unanswered.”

He said: “A promised consultation on the post-Brexit Shared Prosperity Fund that would replace EU funding streams is yet to materialise. The £200 million is welcome, but we need to start thinking much bigger about future investment in the small firms that make-up 99 per cent of the UK business community.”

By Harry Robertson

Source: City AM

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London house prices start to stabilise after three-year dip

Signs that London’s house prices could be starting to stabilise emerged this morning, with a new study showing that values picked up slightly in February.

According to Zoopla, househunters that have previously held off on deals are seeking out buying opportunities in the capital following weaker house price growth amid the Brexit uncertainty.

The property portal said that “while market conditions remain weak, there are signs of a pick-up in demand following a 3-year house price re-correction of London homes”.

The rate of London’s annual house price growth picked up modestly in February, climbing 0.4 per cent when compared with the same month in the previous year.

The number of London postcodes registering a fall in house prices also dipped from 69 per cent in October to 55 per cent in February.

Every city in the UK registered a rise in house prices in February for the first time since 2015.

The city which saw the sharpest year-on-year rise in house prices was Leicester, which registered a 6.8 per cent bump in values over the 12 months.

Richard Donnell, research and insight director at Zoopla, said that there was a “greater realism on pricing by sellers”.

Donnell added: “With unemployment at a record low and mortgage rates still averaging two per cent, buyers appear to be largely shrugging off Brexit uncertainty until there is a material change in the overall outlook.”

Yet today’s figures come despite a swathe of recent data showing that activity in the capital’s housing market has largely continued its downward trajectory in recent months.

House price rises in January fell to 1.7 per cent across the UK, according to recent Office for National Statistics (ONS) data, with London recording the lowest annual growth out of any region.

The Royal Institution of Chartered Surveyors (Rics) also warned recently that uncertainty over Britain’s imminent departure of the EU is likely to damage the UK housing market over the coming months.

By Sebastian McCarthy

Source: City AM

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House prices up 2.8% over the last year

Leicester and Manchester have recorded price growth of 17% since the Brexit vote in June 2016, followed by a 16% increase in Birmingham, Zoopla’s UK Cities House Price Index has found.

The index, powered by Hometrack, found prices have been rising by 5% or more in seven cities led by Leicester, Manchester and Glasgow.

Andy Soloman, founder and chief executive of market researcher Yomdel, has found: “Extremely positive to see the larger, economic hubs of the UK all clock up some positive mileage so early in the year where price growth is concerned.

“I think we’ve now seen a shift in mentality amongst both buyers and sellers who realise if they do wish to sit on the fence until Brexit is finalised, they could be there quite some time.

“As a result and much like Brexit, people just want to get on with it now and sellers are adjusting their price expectations in line with the current market climate, while buyers are taking the plunge and proceeding with a purchase.

“This uplift in demand and market activity has stimulated the market and provided the first concrete signs of a pulse after running on life support for quite some time.”

This is the first time annual price growth has been positive across all 20 cities for 3.5 years, since August 2015, primarily a result of growth finally turning positive in Aberdeen.

Average house prices increased by 2.8% over the last year,Annual price inflation ranges between +6.8% in Leicester to +0.2% in Cambridge.

The annual rate of growth in London has increased slightly to +0.4%. While market conditions remain weak, there are signs of a pick-up in demand following a 3-year repricing of London homes.

This repricing process has come in two forms, absolute price falls which have been concentrated in higher value markets, and a widening in the discount between asking and achieved prices, with the largest discounts in inner London.

Our granular house price indices for London reveal that the proportion of postcodes registering price falls is starting to reduce.

The latest data reveals that prices are falling across 55% of London postcodes, down from almost 70% last October.

The rate at which prices are falling in these markets is relatively low – 0% to -5%. Prices continue to increase in 45% of London City postcodes, typically lower value, more affordable areas in outer London.

Buyers who have delayed purchases and stood on the side-lines since 2015, are starting to see greater value for money, perhaps seeking out buying opportunities while Brexit uncertainty impacts market sentiment.

While London has registered weak growth, regional cities outside southern England have recorded above average price inflation over the last three years. This is a result of better affordability and rising employment which has boosted demand.

The rate of price inflation in regional cities has started to moderate. Hometrack prediction this will continue over the remainder of 2019 and Birmingham and Manchester to start to lose momentum.

Its granular price indices for Birmingham and Manchester, found a significant increase in the proportion of postcodes registering growth of 0% to 5% and fewer areas recording growth over 5% per annum.

This is a result of growing affordability pressures as well as increased uncertainty. We expect prices to keep rising in these cities but at a slower rate, closer to earnings growth.

This follows the pattern recorded in cities such as Bristol and Bournemouth in southern England.

Brexit uncertainty is often cited as the cause of weaker house price growth over the last 12-18 months. Hometrack said it is more complex than that and sees Brexit uncertainty as a compounding factor in markets where fundamentals have weakened.

Price growth is just one measure of relative market strength. Levels of housing transactions are another important measure for businesses operating in the market. The willingness and ability of households to move home underpins revenues and business plans.

Data on transactions remains resilient with no obvious Brexit impact at a national level. Transaction volumes over 2018 remained in line with the 5-year average. The same is true for mortgage approvals for home purchase.

There has been no material drop in activity over 2018H2 as the Brexit debate has heated up. The very latest data from HMRC showed that housing transactions have increased slightly in the first two months of 2019.

With unemployment at a record low and mortgage rates still averaging 2%, buyers appear to be largely shrugging off Brexit uncertainty until there is a material.

By Michael Lloyd

Source: Mortgage Introducer

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Expert Panel Unanimous on Future Optimism in UK Housing Market

A panel of experts were unanimous in their belief that there are grounds for optimism in the UK housing market over the next five years, at an opening debate for the Landlord Investment Show 2019 in London Olympia.

The Landlord Investment Show 2019 kicked off at Olympia London on March 21st, commencing with a government panel debate hosted by publisher and broadcaster Andrew Neil. The debate ranged over a wide variety of pertinent topics, such as Brexit and housebuilding, as well as the obstacles homeowners and landlords currently face.

The panel’s three expert panellists were unanimous in voicing optimism for the UK housing market over the next five years, with some of them believing market fundamentals to be strong and supportive, despite apparent political uncertainty in the present.

The panel consisted of four guest speakers, including Iain Duncan Smith MP; Sarah Davidson, knowledge and product editor of This is Money; Paul Mahoney, founder and managing director of Nova Financial Group, as well as Tony Gimple, founder of Less Tax 4 Landlords.

Mr Duncan Smith, former leader of the Conservative party, used the debate as an opportunity to voice his concern about housing policies implemented in recent years. He believed former Chancellor of the Exchequer George Osborne’s economic policies “had led to landlords scaling back or even leaving the sector entirely”.

Strong turnout at Olympia

As many as 4,300 guests attended the National Landlord Investment Show in Olympia last week. Following the positive verdict on future sentiment in the housing market from the guest panellists at the opening debate, attendees were invited to a variety of seminars, including a special Brexit seminar.

The subject of Brexit was no doubt at the forefront of the minds of many attendees, especially following the developments of preceding days in Westminster. However, Brexit was not the only topic for people to talk about at this year’s event.

Attendees were also invited to attend seminars on the subject of opportunities and threats in the property market for the year ahead, as well as a legal debate chaired by Paul Shamplina, founder and director of Landlord Action. The legal debate centred on topics of great interest to the audience, including the subject of buy-to-let, as well as the private rental sector.

Opportunities for forging new connections

For budding investors keen for some further insights on the subject of buy-to-let, there was a seminar on the subject of being a beginner in property, hosted by a representative from the Property Investors Network.

Buy-to-let proved to be a topic with much coverage during the day, with talks including a morning seminar on the subject of buy to let property investment fundamentals, mistakes and changes, by Paul Mahoney, as well as an educational seminar on how to finance buy-to-let property, held by Jeni Browne, Sales Director at Mortgages for Business.

There were as many as 88 stands erected at the venue for the occasion, giving plenty of opportunities for guests to delve into intriguing ventures and make new connections. Despite the recognition of an overall slowdown in the housing market in the first few months of 2019, National London Investment Show at Olympia was a hive of activity, with attendees showing great keenness to explore new opportunities for the year ahead.

Source: Property118

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UK small businesses plan ahead despite Brexit paralysis

More than two in three (68%) small business owners have put plans in place to grow their business over the next three months, and even 59% those that fear they will struggle to survive in an uncertain year are working on positive plans to turn their business around, according to new research from Hitachi Capital Business Finance.

The findings come at a time when the proportion of UK small businesses predicting growth has hit a five-year low (down from 39% to 34%). Nonetheless, despite prolonged Brexit uncertainty, the new Hitachi data reveals a tenacity and determination among the UK small business community to keep calm and carry on, even through an unprecedented period of political and economic change for the country at large.

The Hitachi data also suggests it is Britain’s youngest small businesses that are the most can-do in putting growth plans in place for the first three months of 2019. Overall, 87% of business owners aged under 35 have been working on new growth plans (compared to 55% of those aged 55 or over). Further, the UK’s youngest businesses (those trading for less than five years) were most assertive in working on new growth initiatives (71%). With London and Manchester growing as the UK’s top tech hubs (and cities for tech jobs), the Hitachi research also noted that London (78%) and the North West (71%) were the regions where small businesses were most likely to be tackling Brexit uncertainty with proactive growth plans.

What are small businesses prioritising to achieve growth?

As part of the latest instalment of Hitachi Capital Business Barometer, which tracks small business outlook and confidence over time, Hitachi asked a nationally representative sample of 1,177 small business decision makers which initiatives they were considering in order to achieve growth in the three months to April 2019. The results paint a picture of what the small business community will be prioritising during the critical Brexit transition period in the weeks ahead.

Keep costs down and carry on

The number one issue for small businesses was controlling fixed costs. During a period of rising rents, business rate hikes and a weak pound, 41% of respondents said cost control was a top priority to help their business grow in uncertain times.  As the perceived importance of cost control hits a five-year high, a further 18% of respondents said they intended to tackle late payment. Despite recent moves by the Government to tackle this issue, there is no evidence that anything as dampened this issue for small business owners. Concern over tackling late payment is at its highest level since the start of 2017.

Cashflow remains king

Improving cash flow has also hit a five-year high as a priority for small businesses to tackle (22%). The perceived need to tackle this issue was most prevalent in the manufacturing (40%), distribution (38%) real estate (38%) and retail (33%) sectors. It was also a bigger issue among larger SMEs with a turnover of £10m or more – ventures that have more complex infrastructures and bigger cost bases to manage.

Expanding the business footprint

Expanding into new overseas markets (16%), hiring more people (15%) and investing in new equipment (12%) were all popular initiatives to secure growth, although in all these areas there was a slight dip on 2018, suggesting some small businesses could be putting on hold physical expansion plans until there is greater certainty on the Brexit outcome.

Looking an industry sectors, small businesses in agriculture were most likely to be planning to invest in new equipment (31%). Expansion into new overseas markets was led by the IT and telecoms sector (49%) and enterprises in the media and marketing sector (34%). Small businesses in the IT and telecoms sector were also those most likely to be hiring new staff in the months ahead (35%).

Initiatives that small business owners are considering to achieve growth in the three months to April 2019

Q1 2017 Q3 2017 Q1 2018 Q3 2018 Q1 2019
Keeping fixed costs down 37% 32% 36% 37% 41%
Improving cash flow 20% 19% 19% 20% 22%
Being stricter with getting paid on time (e.g. from clients) 17% 17% 14% 16% 18%
Expanding into new markets/ overseas 20% 15% 18% 15% 16%
Hiring more people 17% 13% 15% 16% 15%
Investing in new equipment 14% 11% 13% 14% 12%
Reassessing finance commitments 8% 8% 8% 10% 8%
Streamlining supply chain 6% 6% 6% 6% 6%
Seeking financial funding via a partner/ company other than our bank 6% 5% 5% 5% 5%
Moving to a different location/ bigger office 5% 6% 5% 6% 5%
Securing financing to replace a vital business asset(s) 2% 1% 2% 2% 2%

Gavin Wraith-Carter, managing director at Hitachi Capital Business Finance said, “We are all living with political and economic uncertainty at the moment, and getting used to living with it will become the new norm for most businesses in 2019. It is heartening to see so many small businesses going towards uncertainty and seeing it as a time to improve their business, get it in better shape and achieve growth. For smaller businesses that can adapt faster and move quicker, 2019 could be a year of great opportunity.

“That said, finance is going to be key, possibly more so than ever. At a time of uncertainty, cutting fixed costs and strengthening cash flow will be a fundamental requirement for many small businesses in order to simply operate. Beyond that, getting the right kind of finance deals and support is crucial.

“More than ever before, small businesses need access to specialist financial solutions that can nurture growth and expansion without placing undue pressure on cashflow. At Hitachi Capital Business Finance we have a range of financial products that do just that.

“Our heritage is in manufacturing not banking and as a leading finance provider we are in the business of helping small businesses growth through all the stages of an economic cycle. It makes business sense to help business customers stay in business and grow – and we will be expanding our support for the small business sector during 2019.”

Source: London Loves Business

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‘No deal’ Brexit prompts expectation of increase in demand for business loans

As predictions have emerged of an upsurge in borrowing demand from SMEs if a ‘no deal’ Brexit occurs, owners of small businesses are being urged to fully acquaint themselves with the terms of a personal guarantee backed loan, before signing on the dotted line.

Todd Davison, director of Purbeck Personal Guarantee Insurance said, “It is widely anticipated that there will be an increase in demand for loans as SMEs look to introduce additional working capital buffers in a bid to ride out any impact on business following a “no-deal” Brexit.

“Additional funding to aid cash flow may help to offset downturns in trade or disruption within the supply chain. But the reality is that most commercial funding will need a Personal Guarantee and this commitment should not be taken lightly.

“As the UK’s only provider of Personal Guarantee Insurance to SMEs, we would urge the Directors of SMEs to fully consider their options and the risks, particularly in the current uncertain economic climate.   It’s vital Directors seek independent advice, and ensure they have investigated what alternative funding may be available.  If a Personal Guarantee backed business loan is the right solution, they should ensure they’re comfortable with all the terms of the guarantee.”

Top facts to check before signing a personal guarantee for a business loan:

  • How will the lender enforce the guarantee?
  • Can the lender serve notice or seek payment on demand?
  • What exactly constitutes a default?
  • Do the terms allow for any remedy period upon default?
  • How will your net personal assets be assessed prior to the giving of the guarantee, and is this is likely to change?
  • Does the contract state that the lender must exhaust every other avenue before making demands on you?
  • Have you considered the cost of obtaining personal guarantee insurance?

Todd Davison concludes: “Personal Guarantees are likely to be requested by every business lender. Directors of small businesses should be clear on the terms of the guarantee, and should have contractual clarity on all eventualities. They should be as genuinely objective as they can about the financial prospects of their business and its commercial value too. It’s essential to remember that a Personal Guarantee is not a hypothetical assurance, creditors can and will enforce them.

“Because they significantly increase risk for the borrower, Personal Guarantees can cause enormous stress. It’s therefore advisable to get Personal Guarantee insurance against the risk that the Guarantee is called by a lender. It will offset any outstanding obligations called in under a Personal Guarantee. The level of cover is based on a fixed percentage of the Personal Guarantee the company director wishes to insure and this is dependent on whether the corresponding finance facility is secured or unsecured.”

Source: London Loves Business

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Alternative funding sector buoyant despite Brexit concerns

The alternative funding sector ‘sustained its willingness to think outside of the mainstream’ in 2018, according to Independent Growth Finance (IGF) boss John Onslow, although Brexit remains its “single greatest barrier”.

IGF provides flexible, asset-based funding to small and medium-sized enterprises (SMEs) across the UK.

John Onslow told Insider more companies are turning to alternative finance as it can be “key to achieving real growth without diluting equity”.

He added that the market had been driven by high liquidity levels in 2018, as well as high publicity for the sector itself.

However, on the UK’s exit of the European Union, Onslow said: “Uncertainty over Brexit has caused some investment to be deferred this year and the implications of Brexit remain the single greatest barrier. 2018 has challenged the resilience of business.”

Research by IGF found that 500 SMEs in the £1m to £100m-turnover bracket said Brexit was their greatest concern. A third had experienced problems with funding requests being rejected, along with issues relating to slow decision-making or turnaround times.

Onslow added: “Political considerations – including Brexit and highly-profiled trade wars – have captured the consciousness of even the smallest SME.

“Despite the SME Health Index finding business confidence has declined, in IGF we have seen a sustained stream of SMEs achieving real growth in 2018, working hard to drive their momentum.”

The firm has also overcome challenges by working with business introducers across the UK and by investing in its staff. In the 12 months to 30 September 2018, IGF’s funds advanced were up by 70 per cent.

“The challenge is to stay relevant and ahead of market trends, whilst delivering value for money through excellent service,” Onslow told Insider.

IGF is headquartered in Redhill, Surrey. In November 2018 it was named Insider‘s Alternative Funder of the Year at the Central and East Dealmakers Awards.

Source: Insider Media

Small business
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Best Ways to Fund Small Business

Small businesses may need extra funds for various reasons. When a market is growing, the company will be in need of additional money.

Clients could be late on paying the invoice, or some clients may cancel collaboration with your business. Small business needs steady cash-flow to get ahead of the competition and grow on the expected rate. Small business financing is not a difficult task, but it includes lots of tools. Today we would love to compare different financial tools.

Traditional Bank loans

After a market crash in 2008, getting traditional bank loans became very hard. That’s a complicated process, especially for small businesses. Most of the small business has no huge credit history with financial institutions so that they will end up with a declined request.

Banks always ask you about lots of stuff. They will ask about the past relationships with the banking system, and you may also give them your business credit score. As for today, it’s a very tough task to get approved by the traditional bank loan system. Banks only accept up to 25% of applications. As for the quick cash, traditional banking loan is not an attractive financial tool.

Business Line of Credit

When financial institutions give you access to a certain amount of money, it’s called a line of credit. They give you a chance to access specific budget whenever your business needs.

That’s exciting tools for small businesses. The company can take any amount from that budget and replenish it anytime. As you recharge it, you can start the same cycle again. That’s a win-win position for both, small business and financial institutions.

Unlike the traditional banking loans, you don’t have to follow a specific monthly schedule to pay for credit. With a line of credit, you take the money and replenish it anytime your company can use the payback.

Keep in mind that a business line of credit is only for a certain amount of money, and you can’t use for big goals.

Invoice factoring

It’s a very easy and straightforward process. When a small business has unpaid invoices, owners can get in touch with “factoring” companies and sell unpaid invoices to them.

It’s not a traditional loan; your company gets paid for the work that’s already done. Well, it has some side effects you may face while using it.

The factoring company will need access to personal information of customers so that it may be a problem for small business. Most clients don’t want to give their personal information to third parties so that they will complain. Be ready for complaining from customers, if you choose invoice factoring as a financial tool.

As for today, there are different ways to fund your small business rather than traditional banking loans. You may need to hire new faces in the company or buy new equipment for efficient work. No matter what is your reason, as a small business owner, you’ll always be in need of extra funds. Steady cash flow means too much for companies, so choose a reliable and trusted financial tool wisely, before going for it.

Source: FinSMEs