“An increase in alternative lending sources has given small and medium-sized businesses choices to fund their business growth particularly when they don’t fit the banks’ lending criteria! “
The number of small businesses choosing to borrow money from the non-bank sector has doubled over the past three years, according to new research from debtor finance firm Scottish Pacific Business Finance. When asked how the businesses were planning on funding growth over the coming six months, 21.7% of SMEs said they would look to the non-banks. As a non-bank, Scottish Pacific has relied on brokers to get its lending out there in the public for the past thirty years, he said.
Image courtesy of brokernews.com.au