Acorn 4 Finance is today launching the lending platform Acorn4finance.co.uk, after identifying what it believes to be a shortfall in the market, which stagnates many of its staple clients from obtaining funding.
To address the shortfall, the company has been working closely with RebuildingSociety.com, a peer-to-business lender, by rewriting its lending criteria and applying its knowledge of the SME sector in order to present a brand new niche offering.
Speaking on the launch of his brand new website, Paul Thompson, Partner at Acorn Commercial Finance, said: “The real thrust behind the site is to get businesses owners to get behind their own lending.
“Who better to lend to a business than those people who use it day in, day out... so by mobilising the crowd we'd like to get people investing in their local economy
“We've seen it on “Bank of Dave” so let's make it a reality.”
The company aims to begin by offering small mezzanine finance packages to assist with deals that have become shackled by a shortfall in funding.
However – in time – Mr Thompson believes that there are no real limits to the different products and loan sizes that Acorn will be able to provide.
The firm is used to dealing with a variety of brokers and introducers, as part of its existing commercial brokering platform, which Paul hopes will add a vital dynamic to the success of the website.
Paul added: “We've been working on the project for quite a few months now, I'm very keen to get our first case live and funded.”
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