Hundreds of viable small to medium sized businesses around the West Midlands are failing to fulfil their growth potential due to a lack of appropriate funding according to Dr Steve Walker, Chief Executive of ART Business Loans (ART).
“Many current observers are saying it has never been a better time to start or grow a business, as so many sources of finance are available”, he says, “and certainly many new streams of finance have opened up in recent years, but their criteria still exclude many businesses.”
ART’s annual event for providers and advisers on business finance, held at iCentrum on 24th April, attracted record numbers, including representatives from all the major banks. Dr Steve Walker added:
“We share a common cause, helping small to medium enterprises to access finance, but still it is rare to see all the banks in one room. I believe that in itself shows there is a recognition that the role we are playing in providing finance for businesses finding it difficult to access finance elsewhere is necessary and important.
“ART’s mission is to fill the gap in funding, which still remains despite the emergence of other alternative sources. We also work in partnership and often lend alongside the banks and other providers to make up a package of finance to support a business.”
The need for Responsible Finance providers, like ART, was also made in a report published recently by University of Birmingham and can be viewed on the Responsible Finance website.
“We are continuing to see strong demand and will be seeking further funding ourselves this year to lend on,” says Steve, “aiming to ensure that all businesses with a viable proposition in the West Midlands region can access the finance they need to survive, thrive and create jobs. I urge businesses that are having trouble accessing finance, or that are not even trying because they think they won’t succeed, to get in touch.”
Contact ART on 0121 359 2444, firstname.lastname@example.org or www.artbusinessloans.co.uk