If you are starting, expanding or restructuring a business, you may need to secure finance. People in business commonly approach banks for financing, but they are not the only option. Other lenders may be more competitive or more suitable for your business - this includes commercial loan providers, peer-to-peer lenders, social and community lenders, invoice financiers and government funding schemes.
If your business has suffered recent losses, has a poor credit rating, is highly leveraged or has recently been turned down for bank finance - you may find non-bank finance easier to obtain, more flexible and possibly cheaper.
This guide provides an overview of the main types of non-bank finance available to you, including other options like joint ventures and selling shares. It also provides information on how to increase your chances of securing investment, and how to recognise and avoid unauthorised lenders, such as loan sharks.