Barclays Borrowing App, Bank Lending to SMEs and Borrowing from Family & Friends - BFB Epsd 150
By Rob Warlow
We start this latest Business Finance Bulletin by reviewing the launch of a new mobile banking service from Barclays which will allow its small business clients to apply for finance and, if accepted, receive funds within one hour. We take our regular look at what the High Street banks are doing in terms of money lent out to business according to the latest statistics released by the Bank of England. Family and friends are a popular source of finance amongst business owners mainly because of the ease with which funds can be accessed. However, new research has revealed how failure to pay back can cause relationships to breakdown. But to save the day we have details of a new Peer to Peer lender who can step in to ease the tension.