SMEs look to alternative lenders

SMEs are shying away from traditional bank lending, instead preferring to use alternative finance providers including asset financiers, peer-to-peer lending, and equity crowdfunding. 

The British Business Bank determined that only 1.7% of SMEs are seeking loans from their bank, the lowest since records began in 2011. By contrast, peer-to-peer lending increased by 50% in 2017.

http://www.cityam.com/280900/small-firms-look-askance-bank-borrowing-alternative-finance