Carraghyn - Chartered Directors

Online Peer-To-Peer Finance Given A Boost By UK Government 

As part of the £1.2 billion Business Finance Partnership announced in George Osborne’s 2011 Autumn Statement, Vince Cable, the Business Secretary, has announced that £100 million of the £500 million announced in the 2012 Budget earmarked specifically for Small and Medium Sized Businesses (SMEs) will be delivered via providers of alternative sources of finance such as online peer-to-peer lenders.

Cable said: “As businesses are continuing to struggle to get credit from their banks, developing alternative lending channels is essential so that firms are less reliant on banks.”

 

The funding offered by the government has to be matched pound for pound by funds from private investors, and potential lenders have been invited to submit proposals by 20th July on how they would use this money to boost lending. The intention is to start considering applications from businesses by the autumn of this year.

Management of the remaining £400m available as part of the Business Finance Partnership is being put out to tender for fund managers who lend directly to medium sized businesses.

The Treasury has also confirmed that “angel investors” in growing companies will receive a tax break worth £125m after the EU agreed the expansion of incentives for backers of small businesses.

Carraghyn can help companies develop proposals for submission to traditional and alternative sources of finance be that debt, equity or a mix of both.

Comments   

 
0 # There is a ggd needHeinz 2012-07-05 01:32
Even here in Germany is difficult for business to access funding from banks. People think Germany has lot of money but that is not so, The so called success of Germany is because the east do not need to attend to carbon trading requirements or to minimum wage, employable rights or many other matters.
Reply | Reply with quote | Quote | Report to administrator
 
 
+5 # RE: Online Peer-To-Peer Finance Given A Boost By UK GovernmentDimitar Orlov 2012-06-15 22:02
Do you think that the announcement today that the Bank of England is to make cheap loans to banks will be of help?
Reply | Reply with quote | Quote | Report to administrator
 

Follow Us:

  • Facebook: Carraghyn
  • Google+: 107302261143529823760
  • Linked In: company/carraghyn-ltd
  • Twitter: carraghyn

Login

You are here: Home Carraghyn's Blog Online Peer-To-Peer Finance Given A Boost By UK Government