Test Page
19 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Rescooped by Paula Gurney from P2P and Social Lending: Global Trends
Scoop.it!

UK Business Secretary: Go For Non Banking Lending

UK Business Secretary: Go For Non Banking Lending | Test Page | Scoop.it
British businesses should look for funding outside the banking sector, Business Secretary Vince Cable has said, marking the latest effort to generate growth among small-and medium-sized businesses.

Via P2P Consultants
more...
P2P Consultants's curator insight, May 20, 2013 7:36 PM

Summary:


The CBI said high-growth, medium-sized businesses could be worth an additional £20bn pounds ($30.4 billion) to the British economy over the next seven years if they can gain access to finance through alternative channels.

Rescooped by Paula Gurney from Alternative Finance
Scoop.it!

Real Business - Bank lending to businesses is 25% less than before the crash

Real Business - Bank lending to businesses is 25% less than before the crash | Test Page | Scoop.it
SMEs are expected to turn increasingly to alternative sources of finance despite a projected recovery in bank lending next year.

Via Louise Beaumont
more...
No comment yet.
Scooped by Paula Gurney
Scoop.it!

Bank lending to small firms drops by £660m

LENDING to small and medium-sized businesses in the UK tumbled by a net £660 million in April, the steepest monthly fall since December last year, figures from the Bank of England reveal.

more...
No comment yet.
Scooped by Paula Gurney
Scoop.it!

Improving access to finance for SMEs: key to economic recovery - European Commission

Improving access to finance for SMEs: key to economic recovery - European Commission | Test Page | Scoop.it

Small and medium sized enterprises (SMEs) will drive the recovery in Europe, but they need improved and easy access to finance. Over the last few years the European Commission has been constantly working to improve their situation.

This commitment is reiterated in a joint European Commission/European Investment Bank (EIB) Group report published today. At a time when the situation remains difficult, the EIB Group's support for SMEs reached €13 billion in 2012. In addition, with a budget of €1.1 billion, Commission-funded guarantees helped to mobilise loans worth more than €13 billion, boosting nearly 220 000 small businesses across Europe. Today´s report covers the results of the current funding schemes as well as the new generation of financial instruments for SMEs. Financial resources for SMEs will be significantly enhanced through the €10 billion increase in the EIB’s capital.

As part of the Commission’s continuing efforts to support SMEs, European Commission Vice President Antonio Tajani, responsible for enterprise and industry policy, today also launched a newsingle online portal on all EU financial instruments for SMEs as well an information guide to promote SME stock listings, at a meeting of the SME Finance Forum on the eve of an Informal Competitiveness Council on 2 and 3 May in Dublin.

European Commission Vice President Antonio Tajani, Commissioner for Industry and Entrepreneurship, said: "Access to finance of SMEs remains difficult and is one of the main reasons for the current economic downturn. Therefore we intend to enlarge our loan guarantees to SMEs under the new COSME programme as of 2014. Each euro dedicated to our guarantees has the power to stimulate - on average – 30 euros in bank loans. This is crucial to help Europe's jobs engine, our small enterprises, to run smoothly again. It is they who create 85% of all new jobs."

Almost 220,000 SMEs profited from Commission CIP programme

With a budget of €1.1 billion, the Competitiveness and Innovation Framework Programme (CIP) has helped to mobilise over €13 billion of loans and €2.3 billion of venture capital for SMEs across Europe. Under its SME guarantee facility, CIP has helped nearly 220,000 SMEs to access loans. These loan guarantees are used in cases where the entrepreneur or the small enterprises do not have sufficient collateral to offer and the bank will not provide a loan. 90% of the beneficiaries have 10 or less employees and this is the category that has most difficulties to get a loan. The average guaranteed loan is about €65,000.

Each euro dedicated to CIP guarantees has a power to mobilise - on average – 30 Euros in bank loans. As a result, with a limited budget of €1.1 billion, CIP was able to stimulate so far more than €15 billion of financing for SMEs.

Single access point to all EU financial instruments for SMEs

The new single access point provides simple and easy access to over €100 billion of EU financing available under the different EU programmes in the current programme period (2007-2013). Europe is providing a mix of flexible financial instruments under programmes such as the Competitiveness and Innovation Framework Programme (CIP), Progress Microfinance, the Risk Sharing Instrument (FP7), EIB loans and Structural Funds.

Better access to equity markets – promotion of SME listings

The European Commission also launched today a targeted information campaign to promote SME listings and stimulate investors’ interest in SMEs and mid-caps. To this end the Commission published a web-based information guide for SME stock listings. This tool provides advice to small and medium-sized businesses on how to go public.

It will be combined with the creation of an award for the best European stock market listings among small and mid-cap companies.

more...
No comment yet.
Scooped by Paula Gurney
Scoop.it!

Banking system soundness is the key to more SME financing - Bruegel

Banking system soundness is the key to more SME financing - Bruegel | Test Page | Scoop.it
The SME access-to-finance problem is not universal in the European Union and there are reasons for the fall in credit aggregates and higher SME lending rates in southern Europe. Possible market failures, high ...
more...
No comment yet.
Rescooped by Paula Gurney from The Money Chronicle
Scoop.it!

Bank lending continues to shrink

Bank lending continues to shrink | Test Page | Scoop.it
UK bank lending continues to fall, Bank of England figures show, despite government attempts to reverse the trend.

Via Dai
more...
No comment yet.
Rescooped by Paula Gurney from Miscellaneous Topics
Scoop.it!

RBS commissions review of UK small business lending

RBS commissions review of UK small business lending | Test Page | Scoop.it
LONDON (Reuters) - Royal Bank of Scotland (RBS) has commissioned a review of its lending to small businesses, responding to concerns of a shortage of finance in a sector seen as vital to

Via David Simpson
more...
No comment yet.
Rescooped by Paula Gurney from Alternative Finance
Scoop.it!

SME confidence in bank financing at lowest since 2010

SME confidence in bank financing at lowest since 2010 | Test Page | Scoop.it
The eagerly anticipated Q3 BDRC Continental SME Finance Monitor Report came out in November and it made interesting reading.

Via Louise Beaumont
more...
Louise Beaumont's curator insight, January 2, 2013 5:14 AM

Banks' need to respond to alternative sources of business finance may be the spur to improved service and hence imporved confidence.

Rescooped by Paula Gurney from Business Plan Writing and Funding
Scoop.it!

Funding for Lending: Business Groups Welcome George Osborne Plan to Extend £80bn Scheme

Funding for Lending: Business Groups Welcome George Osborne Plan to Extend £80bn Scheme | Test Page | Scoop.it
Chancellor George Osborne set to expand Funding for Lending so it specifically targets SME finance to improve credit conditions for small firms.

Via The Business Plan Team
more...
No comment yet.
Scooped by Paula Gurney
Scoop.it!

Coeuré: ECB confronts SME financing challenge - Euromoney Magazine

Coeuré: ECB confronts SME financing challenge - Euromoney Magazine | Test Page | Scoop.it
Coeuré: ECB confronts SME financing challenge Euromoney Magazine In an exclusive interview, Benoît Coeuré, member of the executive board of the European Central Bank, discusses the challenges that Europe faces in stimulating financing to small and...
more...
No comment yet.