< p>A new study by Amicus Finance Plc has found small businesses rate alternative lenders over banks on flexibility, service and speed.

The report states nearly half of small business owners - 45% - believed alternative lenders offer more flexibility than banks and 37% said they had a greater ability to lend.

Amicus has also revealed that 32% of small business owners lost out on a deal or investment opportunity because their bank was unwilling to service their borrowing requirements.

Almost 64% of SMEs predicted demand for alternative finance would increase over two years and John Jenkins, CEO of Amicus, put that down to speed, flexibility and service.

“Many small firms tell us that speed of execution can make all the difference when there’s an opportunity on the table that needs a quick turnaround,” said John.

“Given the challenges faced by banks in recent years, it’s little surprise that many small business owners feel they’ve missed out on exciting deals and growth opportunities due to a lack of support.

“Most business owners who have turned to alternative lenders discover that dealing with them is a breath of fresh air - and that’s why they are continuing to gain popularity.”

The report found that 42% of small businesses had considered using alternative finance over the past five years with the most popular forms including crowdsourcing, invoice finance and commercial mortgages.