← Back | How can I get funding for my UK business
People have often asked "how can I get funding for my UK business" and put those very search terms into their favourite search website. This list should save them some time :-
- Funding Circle is brilliant for investors looking for a better return than many banks can give them in the last ten years. Funding Circle was the 1st website to allow peer-to-peer lending for businesses in Britain and now operates in the UK, US, Germany and the Netherlands. Funding Circle has facilitated over £5 billion in loans to SMEs as at June 2018. The normal RoI can be as high as 7.1% which is similar to many Hedge Funds. The way they handle defaults is a lot better than many banks. When a lender defaults, Funding Circle will ease back on the payments allowing the company to recover. Often the business is able to return nearly all the capital to the investors. Funding Circle has been around since 2010 and is a lending marketplace that allows investors to lend funds directly to small and medium-sized companies. Funding Circle was founded in 2010 by James Meekings, Samir Desai and Andrew Mullinger.
- ZOPA was started in 2005 by Giles Andrews (who is now the Vice President) and was featured in The Sunday Times newspaper shortly afterwards. ZOPA is best suited for individuals who need to get personal funding for things like car repairs, home improvements, school clothes, unexpected holiday expenses or just to consolidate their debts. For the investor, ZOPA's RoI is between 4.3% to 5.3%. In 2019 ZOPA passed the £4 billion lending milestone.
- Accelerate Funding were set-up last year to help many small UK businesses get funding as fast as possible, along with government grants and R&D tax credits.