Small, local businesses are undoubtedly the unsung heroes and driving force behind the UK economy, employing 60% of the private sector workforce and generating 50%of the UK’s GDP.
This is one of the reasons why we have been introducers for the national peer-to-peer lending service, Funding Circle, for the last six months. During this time we have provided the necessary funding to enable several of our clients to expand.
As a marketing agency with specific expertise in the mid-market sector for several years, we understand just how critical funding is for growing businesses that need to promote themselves in a highly-competitive market place.
It’s a sad fact, but we know from years of working with mid-market companies that funding from banks in the current economic climate is now virtually impossible. Many of the UK’s small businesses are gripped in the stranglehold of the major banks, who charge them high interest rates and fees in return for borrowing.
According to HM Treasury, the top five high street banks make up more than 90% of total small business lending by the banks, which clearly illustrates the limited finance options small businesses currently face.
Initiatives, like Funding Circle, are an absolute vital component in this fast-changing environment and will undoubtedly change the way businesses source finance forever.
While many SMEs may still only just becoming switched on to this vital source of funding, those who have already tuned into it have clearly reaped the benefits and are yet to look back. Since its launch two years ago, Funding Circle has also continued to generate increased widespread support from the media on a global scale.
We believe funding provided by Funding Circle is a valuable financial lifeline for many businesses, the catalyst for getting the mid-market economy back on track and key to accessing much-needed funding faster and easier than from the traditional lenders.
For further information about Funding Circle and how we could help you, call us on 01926 330800 or email firstname.lastname@example.org.