Capify, a specialist SME lender, has launched a £40m fund for UK smaller businesses to help manage operations through difficult trading conditions.
According to Capify, the fund has been specially created in response to real and growing concerns about access to finance from traditional lending sources the impact that has on SME business’ ability to deal with the effects of inflation.
The new funding, Capify added, aims to alleviate some of the potential crippling cash crunch crisis and provide a much-needed lifeline for businesses struggling with increasingly challenging conditions.
The fund can also be accessed by companies wanting to invest in their operations and realise their growth ambitions. Funding of up to £500,000 will be open to SMEs across a range of sectors that are already trading.
Capify COO John Rozenbroek said, “Our most recent survey presented a very stark picture of the UK SME landscape. Whilst many businesses were optimistic about their potential to grow sales and headcount, there was a real sense that access to finance is becoming an increasing concern”.
“These underlying concerns will have been accentuated by this period of inflation and the attendant price rises throughout the supply chain.
“As we saw in that last great recession, traditional banks restrict their lending criteria in uncertain times and make it difficult for SMEs to get the finance they so desperately need. Our new fund is a specific response to this gap in the funding landscape. It underlines that alternative lenders like ourselves will have a vital role to play in helping SMEs navigate these headwinds and allow them to capitalise on future opportunities”.
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