- 06 Oct
Speaking on the latest edition of ArchOver’s ‘The Crowdfunders Show’ broadcast in partnership with Share Radio this week, Angus Dent, CEO of crowdlending platform ArchOver, said that crowdlenders were “not the nemesis of the traditional banks, nor vice versa.”
“Banks are no more homogenised than crowdlending platforms – each organisation has different characteristics. The important thing is that SMEs are supported and that the right type of funding reaches SME businesses, at the right time.”
Earlier in the show, Andy Bishop, Head of Business Development for SME Lending at Lloyds Bank, told listeners: “The banks and the crowdlenders are not deadly enemies and there are definitely ways in which we can work together. I can foresee circumstances in which we might actually recommend alternative finance.”
“Ultimately the platforms and banks have the same common goal, which is to ensure that SMEs are supported and that they receive the right type of finance in the company’s cycle. They have to be clear about longevity – the finance has to work for the company not just on day one, but throughout the term of the loan.”
Angus Dent welcomed Andy Bishop’s comments, adding: “Our finance doesn’t interfere with other types of bank finance because we take our security from Accounts Receivable. We don’t want, and couldn’t provide, current accounts or a treasury function for companies. The two sources of finance are therefore highly complementary.”
- 10 Jun
Former AA chief, Bob Chase, joins the board at Business Agent
Business Agent, the UK’s first debt and equity crowdfunding aggregator has announced the appointment of Bob Chase as a board director to help lead it towards its vision of becoming the UK’s stock...
- 10 Apr
Chinese investors help boost Crowd2Fund valuation to £10m
Crowd2Fund, the world’s only directly FCA regulated five-model crowdfunding platform, has raised £2m from a range of UK and international investors, placing a notional market value of £10m on the...
- 09 Apr
Still a long journey for SMEs seeking access to finance
Measures designed to pave the way for businesses to get improved access to finance have become law following Royal Assent for the Small Business, Enterprise and Employment Act, but, according to...
- 31 Mar
Ablrate approved for SIPP investment
Ablrate, the marketplace lender which specialises in asset backed transactions, has entered into a partnership with SIPPclub which enables sophisticated investors to invest in Ablrate loans through...
- 26 Mar
Investors should approach promises of easy riches with care
The greater freedom for pensioners to withdraw cash from their pension funds to invest as they see fit and the confirmation that interest earned on peer-to-peer loans qualifies under the new personal...
- 06 Mar
Ablrate offers private individuals the opportunity to earn 11% pa investing in aircraft
Peer-to-business lender Ablrate have launched their newest and largest opportunity for private individuals to invest in aircraft. The transaction is ground-breaking and offers a return of 11% per...
- 02 Feb
Dampened demand for SME loans is putting handbrake on UK growth
Graeme Marshall, Chief Executive of leading P2P lender FundingKnight, has responded to the latest Bank of England ‘Trends in Lending’ report by saying that years of being turned down for finance...