Bank Loans To Small Businesses – The value of non-urgent bank loans to SMEs fell by 10% from £168bn in December 2019 to £152bn in December 2020, according to new research from ACP Altenburg Advisors, a leading debt consultancy.
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ACP Altenburg Advisory says research shows that when the CBILS and BBLS lending schemes end, SMEs are likely to have trouble getting financing from non-banking banks. Partly or all written by the government.
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Total CBILS and BBLS lending to SMEs increased by £4bn in April 2020, to a total of almost £61bn lent by December 2020*.
When the CBILS and BBLS schemes come to an end, ACP Altenburg Advisory says banks will not have enough appetite to lend and make them more vulnerable to the SME sector, given the importance of overall SME lending over the last 12 months, including the crisis. borrowed.
Many banks have already reduced non-urgent loans to new bankers. As CBILS and BBLS loans are financed by the Government, banks are able to offer better loan terms than “regular business” loans, which do not offer lenders the same security.
ACP Altenburg Advisory says other lenders will be sought next month as SMEs find it harder to get funding from traditional lenders.
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Will Senbanjo, partner of ACP Altenburg Advisors, says: “CBILS and BBLS loans have been able to lend to banks to the extent that they are able to provide traditional loans to SMEs. That means businesses looking to grow can struggle to get the money they need.”
“SMEs looking to find additional funding for growth in the coming months should consider other options, such as borrowing from real estate or other financial institutions. Money from other lenders is open to business and they want to invest in well-managed businesses that have a good reputation.” growth potential.”
Debt advisers can be instrumental in helping a business get the right financial package to suit their business needs. Financial advisors can help businesses understand and explore the various financing options open to them, and then help them pitch their business to the most qualified lenders.
* According to data from the Bank of England and the British Business Bank. SMEs are defined as businesses with a turnover of less than £25 million.
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Other anonymous cookies are those that are identified and not classified as important. It is important to determine the value of the loan for your business. copy per loan. Additionally, it can be difficult to find and compare all the different rates and fees associated with each loan available to your SME. Here we gather data available from major banks and other lenders (P2P / Crowdfunding platforms) to expand the differences in costs associated with the loan market in Singapore.
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