What to do when the bank says "NO!"

'No' from the bank does not mean your business can't be funded

There are today more than 100 alternative funders ready to lend to businesses 

Identifying the right funding options does not have to be complicated or take a huge amount of your time

Cost of non-bank funding is not necessarily high

It is, however, almost always quicker to access than bank funding


You may have approached your bank and found it difficult to secure the all or part of the funds you require. You are in good company. Banks are declining up to 50% loan requests from some smaller businesses. 

Bank lending decisions have very little to do with you or the prospects of your business.

Banks' outdated and costly processes and high costs of capital make it difficult for them to lend to smaller businesses or provide flexible forms of credit. The availability of overdrafts, long a favourite tool for businesses to smooth cash flow, has shrunk by more than 30%.

More than 100 options to fund your business

The good news is that there are more than 100 new lenders who have stepped into the gap left by banks and are ready to lend to businesses even if they have been told 'no' by their bank. And there are also public schemes that provide support and funding to businesses.

This means that your business and your funding request is likely to be attractive to many lenders who look at creditworthiness in different ways from a bank. 

In a recent request for funding, our client was running a growing company manufacturing dolls clothing. The owner needed to bridge the gap between a bill that was due immediately and a customer payment that was expected ten days later. 

The solution in this case was to release the payment from the outstanding invoice the following day. This proved to be not just the right solution for the business but also cost effective - as the business only paid interest for the ten days that it required the funding and nothing for setting up the funding facility.

Funding Xchange gives a transparent view of options

But business owners don't have the time to research these new funding options, speak to all the potential funders and complete lots of applications to request quotes.

Here Funding Xchange helps you - with just one request for funding you can reach many lenders to get a transparent view of the available options for your business. Funders will get back to you with individual quotes, making it easy to compare offers. As a business owner, you are in control.


You determine who you want to work with based on transparent terms.