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The golden age of business lending

"Are we in the Golden Age of Bank Loans?" Alistair Greener asks.  
In short, no. In this age of internet and big data, businesses are constantly evolvingand the banks are not keeping pace with them. 
We have to question the reliance of businesses on traditional bank loans. Over reliance on banks is actually putting businesses at risk.  
They take too long. Businesses need money today or tomorrow, three to six months is too long for them to wait, especially when it is sometimes still a 'no'.  
If banks were to change their offering in just one way it should be the time it takes to deliver a 'no' to a business. A quick 'no' is as important as a yes. Their check box system doesn't allow them to truly evaluate a business individually – all businesses are different and that's something that we believe matters at Nucleus. 


Work needs to be done by all parties involved to raise awareness of the funding options on offer. The Government have introduced various schemes and things are heading in the right direction. The banks are now starting to pass businesses they can't help over to alternative lenders, like Nucleus. What they need to do next is do it faster. As alternative lenders we need to get betting at reaching out to businesses and the business owners themselves need to search wider for the different options available to them. 
We're now in the golden age of business lending in terms of the options that are available. We need to raise awareness to make sure businesses are getting the funding that they need. 

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