Big four accountancy and advisory firm, KPMG has launched a new financing option for small and medium-sized businesses looking to raise debt finance up to £10 million.
KPMG’s Enterprise Financing will complement the firm’s debt advisory expertise and will support SMEs looking to raise new debt finance or refinance between £2 million and £10 million.
Recent research from the British Business Bank indicates that total lending to SMEs over 2016 stood at £110 billion and within that, use of structured loans increased by £1.5 billion net over the course of the year. The data suggests that banks currently approve approximately eight in every ten applications for finance, and through the referral scheme, the hope is that the 20 per cent of businesses who don’t make the cut are passed on to alternative financiers.
“Our new Enterprise Financing offering provides independent advice for a borrower ensuring they are partnered with the most appropriate lender for their requirements and secure market competitive terms.”
“For any SME looking to raise debt, now is a great time to be in the market. Lenders have funds to put to work, pricing is attractive and the range and variety of funding options available to SMEs continues to increase,” Steve Elsigood, head of KPMG’s Enterprise Financing offering in the UK, said.
“Navigating this landscape effectively can be difficult and time-consuming, which is why many businesses turn to independent advice on the best way forward.”
This new launch will provide independent competition to the broker market, and is the latest service provided by KPMG Enterprise.