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The UK SME business loan market has seen a phenomenal transformation in the past two and a half years, thanks in no small part to the ambition, skill and marketing power of Funding Circle. It has passed the £100m milestone and lends over £1m a week now.
Funding Circle has done much to bring the market into the consciousness of business owners across the UK and its successful penetration of the commercial finance broker market has enabled it to scale rapidly. Support from credible new players like ThinCats.com, Assetz, Funding Knight and rebuildingsociety.com has pushed momentum forward and helped to spread the word.
At rebuildingsociety.com, we have a mission to provide the best business loans available. We know what its like to manage the risks of running a business and we understand there can be hicups along the way. We’re here to support you.
Borrowing from a community of investors is more rewarding and more forgiving, than borrowing from a faceless institution. Don’t be fooled by a low interest rate when there are many hidden fees.
We are one of the only platforms that does not take a margin on the loan, so the full amount of your repayment is passed to your lenders. This makes it eficient for you to use us to formalise any friends and familiy loans already on your balance sheet. When combined with the IF ISA, this is an attractive eay to earn tax free interest from the business.
If you want a business loan fast, perhaps to consolidate existing debt, rebuildingsociety.com can help. We offer the best opportunity for business to develop and expand, sourcing and providing funding within one to two weeks. What’s more, our individual lenders carefully select the businesses they wish to invest in, the businesses they believe in, and as a consequence actively endorse your business through promotions or creating connections with potential customers.
We only charge a 5% arrangement fee, paid upon completion of the transaction, and not before. Both our lenders and the team here at rebuildingsociety.com want your business to succeed, so we do not charge a fee for early repayments either.
Register as a borrower today, then apply to secure the best business loan for your business!
[accordion title=”Our borrowing criteria”]Related pages:
Lenders on rebuildingsociety.com are now able to access the essential parts of their rebuildingsociety.com account, by using the shortcut menu available at the top of every page.
You can now:
SMEs are increasingly turning to alternative sources of finance to grow their business or refinance existing loans.
As bank overdrafts can be called in at any time, small business loans through a peer-to-business lender like rebuildingsociety.com, can give firms a longer and more affordable repayment term, as well as a cash boost to grow the business.
It’s not in the spirit of peer-to-peer lending to call in commercial loans according to the performance of a particular market sector either, we realise that a good business can exist in any sector.
So far, our borrowers have taken loans for working capital because of customers’ lengthy repayment periods, to refurbish their premises, to buy additional assets for the business and to launch new products and services, either in their existing market or in new ones.
Additionally, because businesses borrow from the crowd, they have immediately won an army of interested stakeholders who rely on the success of the business to make sure their loan is repaid.
Businesses interested in applying for a loan through rebuildingsociety.com should watch our tutorial video and check their eligibility, read about successful borrowers or view our press coverage.
We’re pleased with our success to date. We’re growing and we’re attracting plenty of new borrowers. Some of these are long-established and profitable businesses, which would have options to borrow elsewhere.
So we’re improving our platform:
What’s changing?
As of Friday 26 April, the following bid caps will apply to businesses listed on our website:
· A-rated business: Max bid 14%
· B-rated business: Max bid 17%
· C-rated business: Max bid 20%
We’re also increasing the incremental amounts at which anyone can bid from one decimal place to whole numbers. So bids will be made at 19%, 18%, 17% rather than 19.1% or 18.5% etc.
EXQUISITE Handmade Cakes is seeking to raise £50,000 to finance the purchase of new machinery via peer-to-peer online business lending platform rebuildingsociety.com.
Daniel Rajkumar & Viv Parry
The Leeds-based cake maker, which was founded by Viv Parry in 2004 and employs 30 people, hopes to generate extra sales by investing in a fully automated cake cutting machine.
Exquisite Handmade Cakes is “at a critical growth stage”, said Ms Parry, adding that she expects to grow its £1.6m annual turnover by 10 per cent this year.Ms Parry said the business “hit a brick wall” in its efforts to borrow from traditional lenders. “There’s a very poor attitude out there at the minute. No-one wants to take a risk on anything,” she said.
We take privacy concerns very seriously and respect that different people have different sensitivities with the use and visibility of their personal information. Consequently, we’ve made it possible for you to control what information is shared publicly or with friends and group members.
This week, we’re welcoming a guest blogger to the site, Rodger Seaman of Advantage Business Partnerships. Rodger is a business growth specialist and here he offers some tips on acquiring angel investment, which can sometimes be the solution for young businesses looking to raise finance and the expertise of a seasoned professional investor. If you would like to contribute a blog on a related topic in the future, contact nick@rebuildingsociety.com
“So how do investors select the businesses that they decide to invest in? More than two-thirds of private investors recently polled said ‘being personally moved by the idea’ was a leading factor when evaluating a venture for potential investment. The potential of the market and the prior experience of the entrepreneurs were also key factors.
Becoming a private money lender is not something many people would have considered as a means of generating income several years ago.
The internet coupled with advances in payment and ID technology has changed all of that – you can lend money to other people and businesses without leaving your computer.
Jeremy Wilson, rebuildingsociety.com’s Finance Manager, explains how a well-crafted application can make a big difference to the time it takes to get listed on the site and the level of bidding it attracts.
“At rebuildingsociety.com we receive applications from all sorts of businesses. Some are easy to process and attract high levels of bidding – others hang around in our pipeline for a while as we chase missing pieces of information, so it’s important for borrowers to have as much information available as possible.
When reviewing applications we try to do so from the view of a lender, as we have a responsibility to make sure we present opportunities with the capacity to repay a loan.