BFB Epsd 98: Folk 2 Folk, High Growth Support, Funding Circle & Creditor Payment Days
By Rob Warlow
In this episode of the Business Finance Bulletin Rob Warlow reviews peer to peer lender Folk 2 Folk and how they won the recent accolade of Best Lending Platform for Small Businesses. High growth, or scale ups are they are sometimes referred as, are gaining attention in terms of the support and finance they need to meet their potential. We look at the announcement from Barclays Bank of its recent creation of a High Growth and Entrepreneur unit designed to support high growth businesses. Turning back to the crowdfunding world, news of two more local councils joining Funding Circle as lenders to provide financial support to small businesses in their area. These two councils join the growing number of councils providing finance on the Funding Circle platform. In the Business Finance Tip of the Week Rob continues his occasional mini-series looking at how you can calculate and use key ratios from your Profit and Loss and Balance Sheet to spot areas of improvement. In this episode Rob looks at calculating your Creditor Payment Days, or how long on average it takes you to pay your creditors – a potential red flag to your bank!