June 6 2014.

Analysis from Fleximize, a company that offers loans and revenue-based financing to small and medium sized businesses, indicates that the total amount lent to businesses in the UK by online lenders and platforms was over £80m in April.

Fleximize predicts that alternative financing in the SME sector will see substantial growth as banks continue to demonstrate unwillingness to lend while more and more SMEs become aware of the availability of alternative sources of funding. This growth will accelerate if the government makes it obligatory for banks to provide the details of companies they have rejected for funding to alternative providers of capital. The government closed its consultation process on this issue last month and is expected to announce conclusions within the next three months.

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