Alternative finance business reports £70m deal pipeline

Snowball Alternative Finance has announced that it has a deal pipeline worth in excess of £70m.

The alternative finance brokerage – which launched in January this year after receiving FCA approval – is currently on track to exceed its first-year target of £100m in deals.

Peter Black (pictured above, left), who heads up the company, is a former senior banker.

Commenting on the announcement, he said: “The banks lost their appetite for lending following the financial downturn and this has had a serious impact on small- and medium-sized trading and property businesses who are looking to grow.

“Alternative finance options – of which there are many – have filled the gap and are enabling businesses to achieve their growth or expansion aspirations.”

Peter added that it was currently talking to companies in a range of sectors, including property development and management, manufacturing, financial services, transport and e-commerce.

“We recognise that there is still a huge education piece to be done on the options that are out there. 

“So many people think it’s just crowdfunding as that particular route has been the most talked about. 

“But there is so much more, including unsecured loans, EIS funds, asset-based lending, trade finance and growth funds, as well as providers of bespoke facilities to meet specific business and property needs. 

“There are now more than 300 players in this market.”

Working alongside Peter is entrepreneur Alwin Thompson (right), who said: “What has become clear in the early days of Snowball is that businesses need advice as well as financial support and we are well placed to offer both.

“We see ourselves as partners and advisers to our clients and in the majority of instances are offering business planning advice.

“For Snowball it’s looking very much like right time, right place and we are looking forward to a bright future.”

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