ALTERNATIVE FINANCE NEWS

TO SWITCH OR NOT TO RBS SWITCH

Jan 27, 2020

If you or any of your clients have a turnover less than £25m and bank with a part of the RBS Group that was originally going to move to a new Williams & Glyns Bank, then you’ve probably already heard of the Business Banking Switch Scheme. In 2008/09 The Royal…

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FAIL TO PLAN, PLAN TO FAIL!

Jan 27, 2020

You cannot fail to miss all the articles online and in the papers and magazines since 1st January about losing weight, getting fit and exercising, and having this as part of a plan and programme for the year. I have deliberately left this article until late January as most people…

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SEIS AND EIS REJECTION RATES DOUBLING

Jan 14, 2020

The number of applications being rejected for the government backed tax schemes SEIS and EIS has skyrocketed. The schemes offer generous tax reliefs to incentivise investment and are a great way of bringing together businesses requiring equity investment and investors who can protect the downsides of investments. The most recent…

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BOOK OF THE YEAR – WHAT IT TAKES

Jan 14, 2020

Many of you may know that I am an avid reader of business books. So, it takes a lot to make me wax lyrical about any particular book, but this book certainly hits that mark and has instantly become my book of the year for 2019. The book is ‘What…

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RBS CUSTOMERS REJECTING THE SWITCH

Jan 14, 2020

After receiving a £46bn taxpayer funded bailout, the Royal Bank of Scotland (RBS) was ordered to switch 120,000 businesses to other banks by August 2020 and it has been offering various incentives to convince businesses to move. So far it is understood that around 18,000 businesses have switched but those…

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Strategic partnership with Currencies Direct

Oct 29, 2019

Snowball Alternative Finance is delighted to announce a strategic partnership with Currencies Direct, a leading specialist provider of foreign exchange and payment solutions to both private and corporate clients. Currencies Direct transact over £6.5bn and make in excess of 400,000 payments a year. They operate a global business with 22…

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Bridging loan market

Oct 29, 2019

The bridging market hit various records in quarter 2 of this year based on the most recent ASTL (Association of Short Term Lenders) figures: A record £4.62bn loan book at the end of the quarter An increase of 14% on the same quarter last year Growth of 11.7% on the…

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SME funding up but bank funding down

Oct 29, 2019

The most recent Bank of England Credit Survey reported their findings on the major banks and perceived demand from their clients for funding. The overall position for Q3 from the major banks was a slight decrease for small and large businesses and a decrease for medium businesses. In the next…

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Snowball joins Northern Powerhouse Partner Programme

Sep 30, 2019

Alternative finance consultancy business, Snowball Alternative Finance is delighted to announce its inclusion in the Northern Powerhouse Partner Programme. The programme now has over 300 partners who are working together to showcase the North as a great place to do business. Speaking about their involvement, Peter Black, managing director of…

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