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Sole traders in line for savers' funds
housands of sole traders could benefit from a new scheme allowing savers to offer them loans directly via an internet website. Business Secretary Vince Cable has announced that the government plans to invest £10m in the online firm, Zopa.com. This will help it launch a service for builders and other small businesses that are not limited companies. Another £20m of taxpayers' money is to go to Funding Circle. This peer-to-peer lender specialises in limited companies. A provider called Boost will receive £20m to set up a fund that will make loans between £1m and £8m, and Credit Asset Management will receive £5m. In May this year, Mr Cable asked for bids from innovative lenders for a £100m pot of public money, made available to help unblock the flow of finance to small businesses.....Read more here: BBC News - Sole traders in line for savers fundsYou must be logged in to post a comment.
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