The UK economy is very volatile at the moment, which has a direct impact on the banking sector. With the instability surrounding Brexit, lenders are generally tightening their strings and restricted the amount of finance they’re willing to give to British businesses. Inflation has also been rising which is another concern, as higher household costs and business expenditure often leads to an increase in debt.

High street banks have been reducing eligibility for some time, especially to new businesses in desperate need of capital. This has led to a booming alternative finance market, offering what banks would deem ‘high risk loans’ to start-ups and businesses without years and years of accounts. So, is it getting easier to get a loan? The answer depends which lender you’re applying to.

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