The next step

To alternativebusinessfunding.co.uk

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Access alternative business funding

Collaborative finance. As the banks are still refusing to lend money to many small companies, seven of the major “alternative funders” - Funding Circle, Market Invoice, Zopa, Platform Black, Seedrs, CrowdCube and Pensionledfunding.com - have got together and launched a single web portal that’s designed to help businesses find good sources of non-bank funding. This one-stop online shop can be found at http://alternativebusinessfunding.co.uk (see The next step ).

How does it work? Directors who are seeking finance - either on a long or short-terms basis - answer a few simple questions about their company’s financial requirements and are then signposted to all the alternative funding options that can meet their needs, for example, peer-to-peer lending, crowd-funding and invoice financing. Where there’s a good match, the funder’s contact details are given along with information on how to apply. The portal also provides information on the pros and cons of each alternative funding option, although you should still seek professional advice on the full implications for you and your company.

Tip. It’s free to access the portal and you won’t be asked to provide any personal details. Other alternative funders are set to join shortly, therefore extending the alternative funding options already available. If you’re looking for finance, it could be more help than the banks.

For further information on how to access the portal, visit http://tipsandadvice-companydirector.co.uk/download (CD 15.13.08).