Why Won’t Banks Lend to SMEs? Why Aren’t They Lending to You?

Posted: 11th March 2019

Why Won’t Banks Lend to SMEs?
Why Aren’t They Lending to You?

Employing more than 16.3million people, and annually turning over more than £2 trillion, why are banks so reluctant to lend to SMEs?

In the last twelve months, more SME businesses than ever have struggled to secure lending through banks; yet, as a collective, they are thriving.

SME businesses are the backbone of the UK’s economy
There are around 5.7 million SMEs in the UK, making up 99% of the private sector in the UK – it’s a hugely influential collective that boosts the UK economy and employment figures.

Banks first and foremost need to look after their own interests. If they feel the business is at risk – perhaps it can’t manage its cashflow effectively or has no assets to secure against lending - it might be reluctant to lend; meaning terms can be less than favourable, or a flat refusal is given.

SMEs Have a Choice Over Lenders, With Multiple Options Available
Yet, what most SME owners aren’t realising is that they can secure lending elsewhere. They do nothave to arrange their lending through the same establishment that provides their banking!

That’s why SMEs should be taking advantage of the knowledge and expertise of independent brokers – whether it’s a secured or unsecured loan, long or short term, stock finance or asset release, for example.

Here at Cashflow Bridge, we are an independent broker, providing finance to the UK. This means we have no contracts or obligations with any lenders. This ensures we source the best suited finance option for our clients. We have relationships with banking institutes, with dynamic lending establishments and traditional lenders.

Faster Finance, Better Rates
Lenders have faith in our thorough qualifying process, which means we secure lending quicker and importantly, at better rates, than businesses can secure for themselves.

Speaking about the benefits of using Cashflow Bridge, Managing Director, Kevin Weaver, says, “Traditional banking is slow, often to the detriment of a client’s immediate need We can deliver a tailored and cost effective solution, and fast! It’s not uncommon for us to secure lending, with monies in their account, within days for SMEs. That’s because our connections with the UK lending market gives us exclusive fast track privileges.”

Find out how...
In just one short call we can provide you with indicative quotes on the best lending option for your business. Call us today and see why we are considered one of the most forward thinking and customer focused brokers in the UK - contact Kevin today on 07917 871832 or email him on kevin.weaver@cashflowbridge.co.uk

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