Small businesses in the UK have been given a lifeline in 2017 with the help of a government scheme known as British Business Bank.
How Much Funding is Available
Many small businesses find themselves in difficult situations with all the uncertainty in the market place this year. The British Business bank have ensured that small businesses are given the funds they need to grow. Since January 2017, £40 million is now available for small businesses through Funding Circle, a popular online provider.
How the Online Application Process Works
Funding Circle uses an online application process which incorporates cutting-edge technology to ensure that the loan application process is stress-free and swift.
A small business can apply for a loan in 10 minutes using a simple online form. There is no face-face meeting involved as part of the loan application process either. A decision is normally given as quickly as 2 working days and if the loan is approved, then a small business can access the loan as within a week.
Demand for Alternative Lenders
Demand for Alternative lenders is growing once again in 2017. Funding Circle is popular with small businesses since they have the backing of many top investors and the assurance of the British Business Bank.