Through ‘Stirling Partners’ we have been selected to run a pilot to help make it easier for businesses to access finance via ‘Funding Circle’. This is the on-line market place that enables small businesses to borrow between £5,000 and £50,000 directly from investors. The process appears simple – but as always the skill is in the presentation and this is one of those situations where you really only get ‘one shot’ at it.
Loans are unsecured and usually cheaper than bank borrowing. Criteria does however need to be understood: main filters are that the business needs to be a Limited Company, been trading for more than 2 years with at least 2 years accounts at Companies House and also have a good credit rating.
There are a number of such alternative borrowing schemes about now – I wrote about the Milton Keynes Venture Fund earlier. If you are looking for finance and you meet the criteria for such schemes we can help you present your case professionally.