In the UK 7 innovative finance companies have joined forces and launched the Alternativebusinessfunding.co.uk website to inform SMEs what alternative funding methods they offer. Two p2p lending services Zopa and Funding Circle, two p2p equity (crowdinvesting) services Crowdcube and Seedrs as well as three other services Pension-Led Funding, Platform Black and MarketInvoice participate in this non-bank funders collaberation.
These platforms account for 85% of alternative finance for businesses market and have provided more than 580 million GBP to SMEs between them.
The information website works like this:
1. Enter the amount of funding you require.
2. After each question you will see the lights change dependant on which funder suits your criteria.
3. At the final question click on any green (or amber) traffic lights for your preferred funder details.
4. All that is left now is for you to approach your funder of choice about sourcing SME finance.