follow us on twitter @elitebizmag find us on facebook connect with us on linkedin google+ page

Alternative lender Liberis gets £57.5m to counter lacklustre SME bank loans

Written by Angus Shaw on Thursday, 12 April 2018. Posted in Funding, Finance

Liberis aims to provide new funding alternatives for British small businesses where traditional lenders fail

Alternative lender Liberis gets £57.5m to counter lacklustre SME bank loans

Making up 99.3% of the private sector, small businesses serve as the lifeblood of the UK economy. But while traditional funding options offered little help for small businesses to scale,  one lender now seeks to provide an alternative to old school support.

Liberis, the alternative finance provider, has secured a £57.5m investment in order to expand its services providing financial loans ranging from £1,000 to £500,000 for small businesses. The investment was drawn from the combined funding power of Paragon Bank, BCI Finance, Blenheim Chalcot and Liberis’ partner British Business Investments. The company has also received additional equity funding from Blenheim Chalcot. Importantly, Liberis’ use of the relatively new cash advance system takes the heat of SMEs by allowing repayments as a pre-agreed proportion of a businesses’ digital transactions - particularly suitable for small companies with few assets.

Speaking about the current lending prospects of small businesses Rob Straathof, CEO of Liberis, said: “Small businesses are the lifeblood of the UK economy yet many still struggle to get much needed financial support from traditional providers.”

He added: “New lending to small businesses by banks has been decreasing since Q4 16 and Liberis jumps into the void with our ‘pay as you earn’ funding solution.”

With Liberis setting out to help British SMEs create 100,000 jobs by 2020, the UK’s growth rate may be looking up. 

About the Author

Angus Shaw

Angus Shaw

With a keen eye for politics as news editor of his university’s publication, Angus can often be found scanning the horizon for the next big waves crashing against business shores. To hone his skills, he has taken on the mantle of editorial intern with Elite, which makes up the time when he's not studying or setting sail at Radio Caroline, the former pirate station.

Proud Partners

Strategic Media Partners

Event Media Partners