FOR IMMEDIATE RELEASE

Finance disrupter Funding Xchange has today welcomed the commitment of the British Business Bank to providing advice for businesses seeking funding.

CEO Katrin Herrling’s comments come after evidence at yesterday’s Treasury Select Committee hearing, which looked at SME financing and took evidence from Keith Morgan, CEO of the British Business Bank.

Katrin said: “Yesterday Keith Morgan spoke about the number of downloads the British Business Bank’s finance guide has received. From our experience the 85,000 download figure isn’t surprising at all because there is a real need for advice in the marketplace. We welcome the commitment from the British Business Bank to provide as much advice as possible, and are delighted to hear about its new initiative, to be called Finance your Growth."

Remarking on the vast options for finance she did say that all advice does need to tie in with all available solutions though.

Katrin added: “The government has launched a huge number of business support schemes, both at regional and national levels, which provide solutions including grants and innovative lending. The priority now should be ensuring businesses know what finance they can access, which options are best for them, and making it as simple and easy to access as possible.”

ENDS

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About Funding Xchange

Funding Xchange is the leading business funding market place. The innovative platform links businesses to the funders who are most likely to have an appetite to lend to them.
Funding Xchange was one of the four founding portals appointed by the government to provide a declines platform for businesses being declined by their mainstream bank on loan applications.
The platform works with a range of high profile business advisors, such as KPMG, and with most of the banks and lending providers, providing access to finance for many SMEs who wish to grow.