Banks prepare for referral scheme

10 October 2016

Conrad Ford was featured in James Hurley’s article on the bank referral scheme in this morning’s Times, which lays out what the scheme will involve when it launches, and what role the Government designated finance platforms will play.

Conrad Ford, Funding Options Chief Executive, emphasised that the referral scheme has big potential:

“The major banks would admit they turn down two hundred thousand SME finance applicants each year and the BBA’s own surveys suggest that 40 per cent of these firms would accept a referral to government designated finance platforms.”

When the scheme does launch, Funding Options will play a central role in helping these businesses find the right finance when they’re unsuccessful with the major banks.

For more information on the Bank Referral Scheme, visit our Bank Referral Scheme FAQ.

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