If you asked your average business owner to name as many banks as they could think of, we’d bet that they’d struggle to get past 10, and almost definitely wouldn’t hit 20. Once you get past the big high-street banks like Barclays, Lloyds and HSBC, most peoples’ knowledge of banks dries up.
This is emblematic of a problem that’s prevalent throughout the finance industry – the idea that when a business wants funds, the only place to get them is the high-street bank. Well, here at ASC we’re here to tell you that this belief is wrong. Very wrong. How many banks do you think are registered in the City of London? Have a guess. We’d say there’s a good chance that your guess is widely off the mark. There are more than 300 banks in the City of London – and that’s just counting the UK-specific lender options. If you include all the branch offices and sub-offices of banks worldwide with a London presence, that number approaches the thousands.
The stereotype might be discouraging, but for once reality is actually much more in your favour. Of course, navigating a world that large on your own is somewhat of a daunting task. Thankfully, that’s what brokers like ASC are here for! We can take the hassle out of your search, and find the lender that really works for you.