4R Blog

RSS Feed

Alternative business lenders 'can provide enlightening experience'

Date Added: 30/07/2012  

Small to medium-sized enterprises (SMEs) in the UK may be able to benefit as a result of loans from alternative business lenders, rather than big names from the high street.

This is the view of Richard Glinn, marketing and membership manager at community finance organisation Foundation East, who stated using such a body can be an "enlightening" experience.

Speaking to the East Anglian Daily Times, he explained alternative lenders such as his own do not pay out large bonuses to their executives like companies such as Barclays, the Royal Bank of Scotland (RBS) and Lloyds TSB.

"The business loan managers who visit the loan applicants are more interested in the people, the idea and the passion than credit score, credit history and security," Mr Glinn noted.

Valerie Jarrett, loans manager for Suffolk, added Foundation East takes factors such as the firm's business plan into account before making a business lending decision.

RBS recently announced it is offering new loan offers for SMEs as part of the Funding for Lending Scheme from the Bank of England.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Miles Pritchard

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback