NEWS

BANK LENDING DOWN AGAIN!

Feb 27, 2018

In its regular bulletin, the Bank of England recently released its bank lending figures to the end of December 2017. This showed bank lending to businesses has fallen again. The amount fell by £1bn in December alone, and loans to SMEs, i.e. those with less than £25m turnover, fell by…

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LESS THAN 1 IN 5 SMEs SAY THEIR BANK UNDERSTANDS THEM

Feb 27, 2018

This disturbing headline is one of the findings of a recent Close Brothers survey looking at SMEs and their relationships with the banks for advice and finance. A paltry 17% of the SMEs felt their high street bank understood the challenges of business and were concerned that their bank was…

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Open-Banking-Is-Here-Snowball-Alternative-Finance

Open Banking Is Here

Jan 31, 2018

Open Banking has begun. For those of you that have not heard of Open Banking, they are the regulations that have been forced on the banks in order to open up competition. Given the near monopoly the main high street banks have on both personal and business banking, and their…

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Peter-Black-Managing-Director-Snowball-Alternative-Finance

Snowball Alternative Finance gets thumbs up from the regulator

Jan 30, 2018

Having secured Financial Conduct Authority (FCA) approval for the business, we are delighted to announce the launch of Snowball Alternative Finance. Snowball Alternative Finance is headed up by former senior banker, Peter Black and North West entrepreneur, Alwin Thompson. We will assist SMEs looking to fund growth of their businesses…

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