Please, sirs, can we have some more? Our only complaint about last night’s Alternative Finance Forum is that there just wasn’t enough of it.
The session, ably hosted by Julie Adam, of top 20 accountancy firm, Menzies, featured presentations from Close Brothers Invoice Financing, the Business Growth Fund, BMS Finance, Metro Bank, and Money&Co. CEO, Nicola Horlick.
The speakers all covered a lot of ground. Their collective breadth of experience and commitment to providing funding for small and medium-sized enterprises (SMEs) provided a compelling testimony for the alternative finance sector – and an insiders’ narrative history of how to fight the good fight for SMEs.
Nicola explained where the Money&Co. niche market is – our borrower companies are over dozen years old, on average. Loan size is well over £300,00 on average – and we get the funds to SMEs where very often the banks can’t or won’t. The presentations will al be up soon on Youtube, and we’ll post details.
It was great stuff while it lasted. But it was all over in a couple of hours. Here’s to more, soon.
Loan Latest & Risk Commentary
Here’s the latest on our own efforts to help SME funding at Money&Co. The current B+ rated loan offering from JFG Limited, is now in receipt of bids for more than 78 per cent of the £307,000 sought by the borrower. The loan has an indicative gross yield of 9 per cent. Bids for the loan show a current average of 9.7 per cent at the time of writing.
Prospective lenders should bear in mind that more expensive offers of funds will be knocked out by cheaper ones, should the loan be filled ahead of deadline. The borrower also has the right to decline an offer of credit. The loan has a lifespan of 60 months.
Bear in mind that capital loaned is at risk. Read the warnings on site in Lend, our Home Page, FAQs and elsewhere.