Money&Co. Joins ABF, Where SME Funding Is £6bn And Rising


PensionLedFunding

It's an undoubted truism: there's strength in numbers. And we're delighted to announce that today we are joining the Alternative Business Funding (ABF) hub. The ABF is now 50-strong, and describes itself as a "leading alternative-funding platform, which successfully lobbied for the new banking referral legislation - estimated to pump an additional £2 billion in business funding into the SME economy."

The idea is to create a single platform to aggregate the funding offers to small and medium-sixed companies (SMEs) that the banks won't or can't lend to.

ABFLogo

The ABF portal has garnered support from politicians, leading trade bodies, and traditional high-street funders for simplifying SME owners' search for finance. The ABF announced earlier this year that an estimated 2,500 SMEs had successfully found funding through ABF. Money&Co. now numbers among 50 ABF funders - collectively we have provided over £6 billion in finance to UK-based SMEs.

Nicola Horlick, CEO of Money&Co., said: "We're delighted to be part of ABF. SMEs are the unsung heroes of the UK's economic resurgence. We will play an active role in finding them funds for growth - and in getting excellent returns for lenders."

Other funders joining the ABF collaboration today are: B2B Mortgages, Ebury, Everline, Ezbob, Gapcap, Grant Tree, IGF, Invest & Fund Ltd, Lending Crowd, Money&Co, Positive Cash, Ratesetter, Secure Trust, Sencus, Theroute, UK EXIM Ltd (TAEFL) and Urica.

M&CLogo

Adam Tavener, chairman of pensionledfunding.com and catalyst for the ABF collaboration, said: "To hit the 50 funders milestone in just over a year is a great achievement. Growing our panel of funders also gives small business owners even more choice when looking at the variety of funding options for their business."

*** A recent economic impact assessment of the bank referral legislation by HM Treasury and the Bank for International Settlements stated that almost two out of every three first-time SME borrowers were rejected by their bank (SME Finance Monitor q4 2013), and many did not consider alternative funding providers. Using this ratio alongside the referral system plans, a conservative ABF estimate expects more than 100,000 small businesses to be referred to alternative funding providers.

ConfIImage

*** Are you registered with Money&Co.?

We have a big new loan coming on site this week, and to lend you have to register. A bonus of registering as a lender is that you qualify for a discount foir crowdfunding conferences sponsored by Money&Co. registered lenders at the recent Discovering The Power Of The Crowd conference qualified for a discount of £40 to the full £190 price. The conference had a star-studded line-up of speakers (from Oney&Co., Venture Founders, Seedrs, Syndicate Room, Archover, Crowdnetic, King & Wood Malleson, The Trillion Fund, and more); lunch and networking drinks were inbcluded in the price. We are planning another conference in Exeter on 17th September in association with south-west law firm, Foot Anstey, with fuller detail to be released soon.Register to make loans and to benefit from future conference discounts by signing up here. It takes just a few minutes.



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Disclaimer: Money&Co.™ is the trading name of Denmark Square Limited, Company Number 08561817, registered in England & Wales, authorised and regulated by the Financial Conduct Authority (FCA). The company is identified on the Financial Services Register under Reference Number 727325. The registered office is 58 Glentham Road, Barnes, London, SW13 9JJ where the register of Directors may be inspected. Denmark Square Limited (ISA manager reference number Z1932) manages the Money&Co. Innovative Finance ISA.