Found: non-bank lenders, while the value of total outstanding business lending provided by peer-to-peer or alternative

Found: investors to address longstanding gaps in the SME finance markets Encourage new players to enter the alternative

Found: banks and FinTechs, spurred by Mandatory Bank Referrals (MBR), means that businesses are now finding alternative

Found: Already discussed is the role of alternative lending platforms; from Fintech to crowdfunding and

Found: Our research shows that awareness of alternative lending options is low; a minority (37%) of

Found: Such a move risks driving SMEs towards alternative lending channels, intensifying a pattern established

Found: realistic projection is that awardees are likely to achieve £15.1 billion in direct, facilitated, and alternative

Found: Open Banking is relied on heavily by the alternative lending industry, to assess the risk of SME

Found: Restoring funding to these companies, and boosting alternative lending models (like council-led

Found: Over 94% of what we deliver outside the emergency loans goes through the alternative lending market.

Found: Get Capital is all about helping SMEs get access to credit and working capital through alternative lending

Found: Our modern-day objective is to support and develop an effectively regulated alternative lending market

Found: should be noted that in many cases where CBIL criteria was not met, High Street Banks have offered alternative

Found: non-profit lending sector to meet the long term need for affordable credit. 95.Unfortunately, the non-profit alternative

Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps she is taking to help (a) small businesses and (b) individuals access (i) Community Development Finance Institutions and (ii) other alternative lending sources.

Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)

The British Business Bank’s Finance Hub provides a comprehensive guide for small businesses seeking finance, including the role played by Community Development Finance Institutions (CDFIs) and other alternative lending sources. Several CDFIs are delivery partners for Start Up Loans, providing finance of up to £25,000 for business owners who have been trading for up to three years. CDFIs also provide loans to businesses through the British Business Bank’s regions and nations funds.

In addition, CDFIs play an invaluable role in enabling individuals to access finance who would otherwise be excluded.

Found: These included personal finance and wealth management (US$333.6m), alternative lending and finance (US

Found: Whilst alternative lending is still not widespread, it 55 https://www.gov.uk/government/ statistics