The research further revealed that in 2014 the total amount raised through alternative forms of lending was an estimated £1.74 billion, double that of 2013. The research further revealed that:
• 42% of small businesses said they considered using alternative finance in the last five years.
• The most popular option, considered by 24% of respondents, was crowdsourcing finance, including peer-to-peer lending and crowdfunding, followed by cashflow/invoice finance (18%), property finance such as bridging loans and commercial mortgages(8%) and asset finance (6%), which covers areas such as plant and machinery and business equipment
• On a regional basis, 77% of small business owners in London predict a rise in demand for alternative finance, the largest portion in the UK
• Business owners in Scotland and Wales were equal second with 69%
• SMEs in the West Midlands were the least enthusiastic about alternative finance with 53% anticipating an increase