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New finance platform launches to match small businesses with lenders

BusinessFinanceCompared.com, a new platform which helps small businesses find the best finance deal, has been launched by Nottingham based entrepreneur Olly Betts.

The platform allows firms to quickly compare and connect with sources of funding across a range of traditional and alternative lenders.

The launch follows recent figures from the Bank of England which showed that demand for lending from small businesses had picked up in second quarter of the year and is expected to rise again next quarter.

Despite this, research from the British Business Bank found that most SMEs struggle to find time to look for finance and if they do, they limit their search to just one source:

Olly Betts, CEO and co-founder of BusinessFinanceCompared.com, said: “Small business owners struggle to spend a great deal of time looking for outside finance, and the complexity of the market makes it hard to know where to get the best deal.

“Our technology matches businesses with the best funders for them, quickly and transparently. We know small business owners are time-poor, so they need a head-start – and knowing which lenders are most likely to approve them can make all the difference.

“Thanks to price comparison websites, individual consumers may have never found it easier to identify and agree the best finance options for them. But, until now, it’s a revolution which has failed to reach business finance – which is bad for businesses and bad for the economy. We want to change that.”

So far BusinessFinanceCompared.com has £10m worth of backing from fintech incubator Bright Bridge Ventures and venture capitalists Blenheim Chalcot.

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