SME finance: Putting businesses in the driving seat

There are 5.5 million small and medium-sized businesses in the UK employing around half of the UK’s workforce. Between them they generate half of the UK’s private sector turnover. Businesses like yours are fundamental to the stability and success of the nation, providing jobs for our workers, services for our communities and diversity for our economy.

The engine room of the UK’s economy

Commonly referred to as the engine room of the economy, many small businesses require access to finance to fuel their operations and growth. According to the SME Finance Monitor 37% of SMEs borrow from lenders, whether it be for working capital to fund slow-paying debtors or to purchase premises to trade from.

 

The small business finance market under-serves UK SMEs

But as you will know if you have ever borrowed for your business, the application process is cumbersome, the options are confusing and it is unbelievably difficult to compare lenders. It seems like SME finance is stuck in the 20th Century – unlike the personal finance market, where you can compare and borrow at the click of a button. It is so difficult for small businesses to choose lenders that 7 in 10 only approach 1 lender when borrowing money.

 

We’re here to change this

At BIZL our mission is to change this. We think businesses like yours deserve better. What’s more, we know how to go about it.

Having helped businesses apply for finance for years we understand that:

  • While you are probably not a finance expert, you do want to know what options you have and be able to choose what is best for your business
  • You like to be in control and be in a position to negotiate favourable terms
  • You hate getting a bad deal, and so would like to compare options so that you know you are getting a competitive deal
  • You don’t have the time or desire to speak to lots of different lenders
  • And you don’t want to pay for the privilege of comparing the market

That’s why we created BIZL.

 

How it works

BIZL is free, fast and easy:

A business looking for finance applies at www.bizl.co and tells us a bit about what they need, who they are and some financial details.

This takes around 15 minutes and requires the applicant to upload financial accounts and bank statements.

 

BIZL find lendersBIZL approaches lenders from High Street banks through to alternative finance providers to find a selection of options to choose from.

This takes around 48 working hours.

 

The applicant chooses the best option for them. They call the shots.

 

We then introduce the applicant to the lender who will proceed to arrange the funding.

Pretty straightforward really – the way business finance should be

 

An exciting vision

This is just the start.

BIZL’s vision is to champion the cause of small businesses who need to raise finance, as we passionately believe that SMEs are the lifeblood of our economy and need access to finance to achieve their potential. We want to see a finance market that favours small businesses rather than banks, and where we see lenders truly competing to provide finance to SMEs.


Do you need our help?  Contact us on support@bizl.co

We have ambitious plans, and to make a change to the market we need support and input from businesses like yours to build a platform that truly makes a difference. Share your thoughts with us  via Twitter, LinkedIn or Facebook, and sign up to our newsletter to be a part of the journey.


BIZL Limited (company number 10838494, registered office 66 Prescot Street, London, E1 8NN) is authorised and regulated by the Financial Conduct Authority. Registered No: 784499. BIZL Limited is a credit broker of business finance, not a lender.
SECURITY MAY BE REQUIRED, INCLUDING GUARANTEES, DEBENTURES AND LEGAL CHARGES OVER PROPERTY.

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