If you’re worried about the big banks having a monopoly on the commercial finance world, here’s some good news for you. According to the Bank of England, as of 31st August there were 155 banks incorporated in the UK, as well as 160 more that are outside the EEA but can accept deposits from the UK.
This is great news for those seeking specialist help – whilst high-street banks offer a wider range of services, they don’t have the expertise necessary to get the funding you need for a business. The rise of so many more specialist banks means we are beginning to see more and more viable options for finding businesses commercial finance.
This is great for you – more and more options mean more and more chances for success finding the right finance for you. But at the same time, it means that the commercial finance world is even more of a jungle than it was before. That’s where we come in – we’re experts at navigating the minefield of banking to bring in the cash you need to grow your business. A wider range of banks for our Directors to talk to gives us more ways to help your business whilst still providing you with a better, faster and simpler service. We can only hope that the number of banks continues to grow!