Aldermore Comments On Cost Of Borrowing If Interest Rates Rise

POSTED: 28th July 2014
IN: Newsroom

Damon Walford, Managing Director of Invoice Finance at Aldermore, comments on Moore Stephens’ findings that a 1% interest rate rise could cost businesses an extra £2.1 billion in borrowing costs in the next year:

“Many UK businesses continue to be turned down by traditional finance providers or simply find traditional finance too costly. Any interest rate rise is going to make the situation worse but many SMEs are finding a solution in invoice finance.

“The number of businesses approaching Aldermore for invoice finance, for example, increased by over 25% in the last 12 months. Aldermore offers flexible products that are tailored to individual businesses and with loan repayment methods that can be spread over time. We have lent £1.8 billion to SMEs since 2009 and are committed to helping small businesses get the funds they need, and will continue to do so as the environment becomes more challenging for businesses in the event of an interest rate rise.”

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