ALTERNATIVE FINANCE ROUNDTABLE

“The business consolidation cycle should be over by now; it should have been over in 2009 or 2010.”Simon AlsopHead of Business, ICAEW

“From a bank’s perspective we talk about the value chain, from when we identify a need to delivering on that need. Four years ago we timed it at 31 days and now it’s six months! Some prospects have a birthday before it happens.”Alex HambrookBusiness Development Manager, ABN AMRO

“What’s happening, certainly in the ABL market, is that the documentation is too thick. There’s a 12 page document with absolutely every problem that could occur. There are so many requirements under the facility that a lot of people just stick with the overdraft.”Witold ChojnowskiSenior Manager, KPMG

“The government has got to provide a fertile ground for these businesses to start up. You have to have those ideas such as tax breaks that could get things going.”Witold ChojnowskiSenior Manager, KPMG

“The trouble is that people don’t know about ABL, they don’t understand it. They don’t understand the traditional lines of credit and they certainly don’t understand alternative finance. They think it’s exactly the same process as getting an overdraft in order to get invoice finance and it’s certainly not.”Glenn BlackmanDirector, Cashflow Acceleration