BFB Epsd 97: Overdraft Alternatives, Shawbrook, Late Payment Interest & ABN Amro
By Rob Warlow
In the latest episode of the Business Finance Bulletin Rob Warlow looks at an alternative to the traditional bank overdraft. With banks providing less support in the form of overdraft facilities a new service has been launched by Growth Street to fill the gap. There is news of a possible rival to PayPal which could be marketed by Apple in 2016, so one to watch. Turning to challenger banks Rob looks at the results from Shawbrook Bank which shows strong growth in profits and increased support to SMEs. Late payment continues to be a problem for growing businesses and in a new survey Rob shares findings that many businesses are reluctant to chase for payment or even charge interest as is their statutory right. One way to alleviate the impact of late payment is to look at Invoice Discounting. To see how this works Rob chats with Kelvin Thomas from ABN Amro Commercial Finance on how it helps growing SMEs.