According to a recent report in the Financial Times, small businesses are increasingly likely to be looking to specialist lenders they are finding online.

The article reports that the chief executive of the British Business Bank saw evidence that small business owners exercising all their options when it comes to lending which includes anything from asset finance to peer to peer lending and venture capital.

Fear of getting turned down by banks has been given as one of the main reasons for the movement towards alternative finance while the number of businesses applying for bank loans has remained flat.

As with retail, there is a quiet revolution taking place where business owners have followed consumers online and to what they perceive as better deals.

Taking on a business loan from a bank is seen as risky compared to asset finance, which is comparatively less risky and allows business owners to use their existing assets to free up cash or boost cash flow.

According to the recent report asset finance lending increased by 12% last year while peer to peer lending increased by 51%. Equity investments meanwhile increased by 79%.

If you would like to find out more about how asset finance can help your business, then give us a call today.