19 October 2012 Insights Market Market News

Alternative Funding for SMEs

Retail Capital

Unsurprisingly, access to working capital was attributed as the biggest challenge faced by SMEs. The survey indicated that the majority of respondents still turned to their banks or a traditional financial institution first when needing to obtain working capital.

As many as three out of ten business owners had previously had their application for a business loan declined by a bank. Only 39% of successful business funding applicants rated the overall experience as positive.

Respondents attributed the top three reasons for obtaining a business loan to be the desire for expansion, followed closely by the need for equipment and renovations.


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