SME Finance Monitor BDRC Continental has recently published a survey that highlights the growing number of alternative funding providers. Crowdfunding is cited as a prime example of this phenomenon.
The Telegraph reports that small- and medium-sized companies (SMEs) are turning to alternative providers of finance. The news organisation's enterprise editor, Rebecca Burn-Callander says that SMEs are being pushed into the open arms of alternative funders - primarily because of a soaring failure rate for bank loan applications.
"It's sad, but not surprising," comments Money&Co. CEO, Nicola Horlick. "We are experiencing strong demand for capital from SMEs frustrated by the lengthy process and the conservative credit criteria of the banks."
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