November was an important month as we crossed the £100,000 advanced in one month to UK businesses. More importantly, it was an important month for the whole alternative finance sector in Britain. When banks turn down a loan request from a small business, they now must refer them on to aggregator platforms, that connect the businesses to funders like us. Around 100,000 SMBs get turned down every year and we see this as a great opportunity. We are collaborating with a number of partners to make the most of this opportunity.
Invoice discounting (Estonia)
- month volume: €802,000
- total volume: €3,206,000
- net return per 30 days: 1.06%
- net annualised return: 12.95%
- average duration: 32 days
- repaid: 165 (out of 210 sold)
- default rate: 0.02%*
- month volume: £104,000
- total volume: £271,000
- net return per 30 days: 1.07%
- net annualised return: 12.96%
- average duration: 34 days
- repaid: 39 (out of 64 sold)
- default rate: 0.00%
*The defaulted invoice was paid off at the beginning of December (along with overdue fees).