NEWS
Strategic partnership with Currencies Direct
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…
Read MoreBridging loan market
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
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
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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The dangers of dashboards
Big Data has been around for a while now and there is a big move to manage teams, departments and businesses with dashboards containing the major KPIs (Key Performance Measures) bespoke for that business. This is all good business practice and we are already doing this with some of our…
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New protection for directors providing personal guarantees
Funders will often add as a condition of providing business finance, the requirement for directors to provide personal guarantees. Without the personal guarantee the funding may not even be available. By signing a personal guarantee, a director places his or her personal estate at risk and if the business fails,…
Read MoreSantander moving out of asset finance
Santander in the UK is pulling out of the asset finance market from the end of 2019 and will wind down all its funding in that market. This is due to major cost cuttings across the global operations but much of the cost cutting is said to be in occurring…
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Snowball secures £8.2 million refinance deal for Crewe care home
Inspired Life Care, a care home company operating in Cheshire, has secured an £8.2m refinance deal on their new Telford Court specialist care home in Crewe. The funding package, provided by Yorkshire Bank, was negotiated by Peter Black of Cheshire-based finance company, Snowball Alternative Finance. Telford Court is an 85-bed…
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SHORT TERM PROPERTY FINANCE MARKET
The short-term property/bridging market continues to grow in terms of the number of players and the number of applications being presented to them. The Association of Short Term Lenders (ASTL) revealed that in Quarter 1 of 2019 the number of applications increased in number by 6.9% compared to the same…
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