SME finance: help to match SMEs rejected for finance with alternative lenders
A consultation on proposals to help alternative finance providers find small businesses that are looking to borrow but have been initially rejected.
Detail
This consultation seeks views on whether the government should legislate to help match SMEs that have been rejected for loans with challenger banks and alternative finance providers who are looking to offer finance. The consultation also asks questions about the mechanics of delivering such a measure if the government decided to legislate, and sets out the government’s preferred approach of requiring banks to refer details of SMEs that have been rejected for loans to a platform or platforms so that they can be accessed by challenger banks and other providers of finance.
Documents