Still looking For Business Funding? Try a CDFI.

If you are trying to get a start up business off the ground and you are struggling with raising finance because o lack of security or a poor credit record, you could try contacting a CDFI (Community development Finance Institution).

These bodies specialise in lending money to social enterprises, sole traders and small businesses struggling to raise funds in the usual manner.  They also work closely with deprived communities by offering affordable loans and financial support to those unable to raise funds elsewhere.

Indeed, according the CDFA website 82% of the loans made by CDFIs last year went to microenterprises, a large proportion of which were sole traders. So if you are struggling to get your business off the ground you could do worse than to look at a CDFI.

If you want to know more why not check out the CDFA website or contact me on martin.parry@mgba.co.uk

MGBA website

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