< p>Invoice trader, Platform Black, has revealed the launch of its new portal which hunts down the best alternative finance for SMEs.
 
Platform Black, the award-winning provider of invoice trading and supply chain finance, is one of the founding members of a new portal, AlternativeBusinessFunding.co.uk, which sources alternative funders for SMEs.

Using a traffic light system, the portal provides a way for SMEs to identify alternative sources of finance, where they can enter the amount of funding they require, then after each question, the lights change depending on which funders match their criteria.

All that is left is for the SME to approach their funder of choice and discuss requirements.

Commenting on the new portal, Louise Beaumont, Co-Founder of Platform Black, said: “We wholeheartedly support the Alternative Business Funding portal, it’s a much-needed tool for Britain’s businesses and is just what SMEs need if they are to thrive and drive the UK economy.”

AlternativeBusinessFunding.co.uk has brought together over 85 per cent of the alternative business funding market in equity crowd funding, invoice trading, peer-to-peer and pension-led funding, with more to join the collaboration in the future.

In addition to being a web portal, Alternative Business Funding is also spearheading a campaign to create a more collaborative environment for business funding aimed at simplifying SME owners’ search for finance and providing a place for the major banks to redirect customers that they feel unable to help themselves.

Alternative Business Funding is also working with business organisations, such as the CBI, FSB and CDFA, to promote alternative finance options to their members.