Showing posts with label p2p. Show all posts
Showing posts with label p2p. Show all posts

Thursday, March 1, 2012

Innovative ways to fund your business

The lasting economic downturn has made it more difficult for small businesses to find the cash required to grow their business. Banks constrained by shrinking profits and increasingly stringent capital requirements have shun from lending to SMEs. And lending targets or the arrival of new entrants on the market will hardly change that.

While the banks have continued to lend through overdrafts and credit cards at extortionate rates, there are other options now available for the creative small business...
  • The Enterprise Finance Guarantee (EFG) -- it is a loan guarantee scheme intended to facilitate additional bank lending to viable SMEs with insufficient or no security with which to secure a normal commercial loan. There is an additional cost of 2% per annum but it can prove a great option when the business has no assets to secure a loan against. Just ask your bank about their EFG options.