Business Finance Council Launched
Readers will be interested to hear that it has recently been announced that the British Finance Council has been launched to assist SMEs obtain funding. This is potentially good news for this important sector of businesses.
The British Finance Council will include senior members of the major banks here in the UK plus it will also include senior staff from alternative lenders. In addition, the council will be co-chaired by Andrea Leadsom who is the Business Secretary and John Glen who is the Economic Secretary to the Treasury.
It will provide assistance to small and medium sized businesses that will be impacted by Brexit in obtaining finance. Obviously, any support that can be provided to SMEs in respect of obtaining finance whether that is for working capital or some other purpose has got to be welcomed. There are no doubt many businesses that are not fully aware of how Brexit may impact on their business.
SMEs may be surprised at how many sources of finance are available here in the UK to help their businesses grow. The days of it just being the major clearing banks that support such businesses financially are long gone. Some of the building societies provide borrowing to businesses as do a variety of other specialist lenders including peer to peer lenders.
With so much choice, it may be difficult for a business to source the most suitable finance. Therefore, you may wish to consider using the services of an experienced broker who specialises in helping businesses of varying size obtain borrowing here in the UK. In this respect, why not get in touch with us here at Commercial Mortgage Link and we will introduce you to a broker who has many years experience in sourcing suitable business finance from an extensive panel of lenders. He or she will assess your requirements and, where appropriate, help you produce a suitable lending proposition, submit it to a lender and help you through the application process right up to completion of the lending.