20th January 2014

Alternative Finance

The BBA has strategic partnerships and referral programmes with many associations of alternative finance and of course banks support alternate finance forms.  Together we promote alternative sources of finance as viable options for SMEs and have created www.betterbusinessfinance.co.uk to guide businesses in the sources of finance available.

The BBA has put in place a national referral programme with the Community Development Finance Institutions, the Community Development Finance Association and the major banks to help businesses unable to get bank finance or source alternative option. In 2014, we are piloting this with the Start-Up Loans Company and as part of the small business strategy looking at how this can be further expanded to accountants and other finance forms.

We work closely with the £2.5billion Business Growth Fund set up by five of the UK’s leading banks (as part of the Business Finance Taskforce) to provide long-term patient capital in the form of equity to growing businesses. The BGF has offices in several locations and a growing portfolio of investments in companies across the UK.

In 2014 we will continue work with the Government in development of long term finance options and options that help businesses needing cash flow support and work commenced as part of the Breedon review.