KBzine: the original kitchen and bathroom industry e-news - since 2002
28th January 2021
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KBSA launches new business funding benefit for members
The Kitchen Bathroom Bedroom Specialists Association has introduced a benefit for members that will help them access funds to invest in their business. The new partnership with peer-to-peer lending company Funding Circle, offers members a fast, efficient and flexible vehicle to raise funds, with a special KBSA members' discount off the usual fee.
"This is a great benefit for our members," says KBSA national chair Richard Hibbert says". Funding Circle has a fantastic track record of lending to small businesses. I have used the company for my own business and found it to be so much easier than dealing with the banks. You can pay off the loan when you like without penalty, it is very easy to apply and I had the money within 2 days."
There are very few minimum requirements for businesses that want to apply and the funds can be used for working capital, expansion plans, refinancing a loan, tax payments or many other purposes. Terms vary from six months to five years and there are no early repayment fees. Unsecured loans are available from £10,000 to £500,000 for Limited Companies and larger partnerships, and £25,000 to £250,000 for sole traders and small partnerships.
Funding Circle says it was the first website to use the process of peer-to-peer lending for business funding in the UK, and now operates in the UK, US, Germany, and the Netherlands. It connects creditworthy businesses looking for finance to people and organisations with money to lend. In 2017, small businesses used loans from Funding Circle to create and sustain 75,000 jobs globally.
"We anticipate great demand for this service," says Richard. "We have introduced it as part of our commitment to supporting our members and providing benefits that can make a difference to their business success."
25th January 2019