Alternative funding on the up
Alternative funding options have proliferated in recent years, and will be a major theme at BITE 2017 (Business, Innovation, Technology and Efficiency) hosted by MHA Carpenter Box at the Amex Stadium, Brighton on Thursday 27 April.
Andy Davis, former editor of FT Weekend and author of the ‘Beyond the Banks’ report on alternative finance, will be one of the industry experts forming an Alternative Funding panel at the free one-day conference, and he’s looking forward to sharing his expertise with local business leaders.
“The alternative funding market is still small when compared to traditional banks, but it can provide a faster and more flexible option for businesses. For example, it’s a route increasingly used for unsecured loans of £50k – £70k,” explained Andy.
One major provider of alternative finance – Funding Circle – is a peer-to-peer lending marketplace that allows investors to lend money directly to small and medium-sized businesses. It currently has a total loan book of £1.2 billion, £820 million of which was lent during 2016 alone.
Small and medium sized businesses are accessing peer-to-peer finance in increasing numbers to help them deliver their strategies for growth.
“BITE will help businesses to develop an understanding of a funding market which offers more options than ever for raising finance, but which can also be complex. With the support of experts in this field, local businesses will gain expert insight into a growing marketplace that offers a wide range of opportunities.”
To register your interest or book a stand at BITE, please visit www.bite2017.com.