Finance Fred Heritage · 8 May 2017
KPMG debt financing service launched for small businesses
Big four auditor KPMG has announced the launch of a new KPMG debt financing service for small business clients looking to raise debt finance up to 10m. The KPMG Enterprise Finance offering will seek to complement existing debt advisory services of the global consultancy, and will aim to help small businesses raise new debt finance, or refinance, of between 2m and 10m. The service is intended to add independent competition to the growing broker market for small business debt finance in the UK. Recent research from the government-backed British Business Bank (BBB) revealed that the use of structured loans as a proportion of the amount lent to small UK firms increased by a net value of 1.5bn during 2016, with total bank lending to SMEs amounting to 110bn. While traditional lenders have come under scrutiny in the past for failing to offer sufficient financing options for small businesses and startups, the BBB found that banks were currently approving around 80 per cent of all applications for finance. In a statement, head of KPMG Enterprise Financing, Steve Elsigood, said 2017 marked a good time to look for debt finance as the owner of a smaller firm. Lenders have funds to put to work, pricing is attractive and the range and variety of funding options available to SMEs continues to increase, he added. ?Our new Enterprise Financingoffering provides independent advice for a borrower, ensuring they are partnered with the most appropriate lender for their requirements and secure market competitive terms.
ABOUT THE EXPERTFred Heritage
Fred Heritage was previously deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London.