- 18 Jun
We Found 92% Of Our Prospects The Funding They Wanted
I have read recently a number of statistics about businesses being unable to access sufficient funding, for example:
- Aldermore Bank tweeted that the "Proportion of SMEs seeking credit has fallen from 22.7% to 20.3%, as greater proportion of applications are turned down.
- The FSB produced an infographic showing that over the last 3 months 42.2% of credit applications have been unsuccessful.
- Bibby Finance tweeted that 77% of British businesses were refused funding required in the past year.
- Our own research concluded that 31% of start ups couldn't raise all the funding that they wanted.
A range of between 31% and 77% being unable to access the funding that they needed depending on which survey you look at.
We therefore reviewed the last 50 new prospects that we have dealt with in order to see how many we were able to find funding for.
- In 92% of cases we were able to find our prospects the finance that they needed.
This is a far better performance than any of the research statistics above and it far outperforms the range of those results. Not all of the prospects may have proceeded but that does not detract from the fact that we were able to find them the finance that they wanted - there were only 8% of cases where we were unable to find them the finance they needed.
If you are having trouble finding finance perhaps we can help you find alternatives.