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|Regulations impeding challenger banks' growth, SMEs need to consider other funding options|
|Thursday, 12 May 2016|
Aamar Aslam, CEO of Funding Invoice, the invoice trading platform, comments on the impact of increased regulation for challenger banks, and how this could affect the UK’s SMEs: “The UK’s challenger banks often provide a strong alternative for small businesses that have been turned down funding by the big banks. As such, the news from KPMG that regulatory pressure could impede the growth of challengers is concerning.
"The possibility of a Brexit is already having a knock-on effect for start-ups and small businesses. If the growth of challenger banks is diminished by adverse regulations, SMEs could be the first to be denied funding. As banks’ capital comes under increased scrutiny in the run-up to the EU Referendum, SMEs could therefore find themselves turned away not just from the bigger lenders, but from these smaller challengers as well.
"As a result, it is imperative for smaller and mid-market enterprises to explore all possible avenues and consider alternative routes of funding to ensure their businesses stay on track during this period of uncertainty.”
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