law Ask A regular column providing answers to your legal questions >


Q I need to borrow money to grow my business, however none of the high-street banks are willing to lend on agreeable terms. What other sources of funding are available to me?


If raising funds from your bank or from your existing shareholders (via debt or equity) is not possible, you could consider:


1 Reward crowdfunding


This is an avenue which appeals to new start-up businesses who have created a buzz about the product they are raising funds to create. Money is raised through approaching multiple investors, asking each to provide a small sum of money. Instead of repaying these investors directly, your business could offer a form of reward in exchange, such as a form of service or free samples of your products – ie the investor expects nothing back in


monetary terms, but gains in another way.


2 Peer to Peer (P2P) lending


P2P is a form of lending arranged through a platform specifically set up to provide loans between groups of individuals or organisations to growing businesses. Decisions about lending are usually taken in hours or days, allowing a quick timetable between application and draw down. P2P lending is a growing market and very competitive rates are available to a wide range of business sectors. But be careful; read all the small print and take advice from solicitors and/or brokers about exactly what the lender is expecting in relation to security (often a personal guarantee is required) and repayment costs (which can be a surprise if you want to repay early). There are many FCA regulated platforms on the market, but there is


Firm to host Development Land Seminar ‘Part 2’


Following a ‘sell-out’ spring seminar, Blandy & Blandy LLP is set to host part 2 in its seminar series, The Anatomy of a Development Land Deal.


The event will take place at Reading Borough Council’s offices on Thursday, October 17 from 5pm and welcomes speakers from Haslams Chartered Surveyors and Pegasus Group.


The seminar will examine the post permission stages of a development land project, the factors critical to success and the pitfalls to avoid.


Focusing on the nuts and bolts of the legal documentation, key land considerations and post permission planning issues, speakers will utilise case studies and share their own expertise and experiences.


Blandy & Blandy was named Property Law Firm of the Year at the 2017 Thames Valley Property Awards and as a finalist in 2018. The firm is ranked


Firm hosts guests at Thames Valley First gala lunch


On May 17, colleagues at Blandy & Blandy were delighted to host guests at Phyllis Court Club, Henley-on-Thames, as part of 2019’s Thames Valley First gala lunch.


David Few, partner and head of the firm’s corporate team and current chairman of Thames Valley First, a focus group established more than 30 years ago to promote the Thames Valley as a powerhouse of the UK economy, gave the introductory speech and welcomed special guest, double Olympic gold winning rower James Cracknell OBE (pictured centre).


The event welcomed 210 members of the Thames Valley’s professional community and their clients.


26 businessmag.co.uk THE BUSINESS MAGAZINE – JULY/AUGUST 2019 blandy.co.uk


among the top 25 firms in the UK for planning law, while team head Karen Jones is ranked an impressive 13th in a list of the country’s top planning solicitors. Both teams are also highly ranked in legal guides Chambers UK and The Legal 500.


To register for the seminar, email: david.lamont@blandy.co.uk


Harriet Jones


harriet.jones@ibblaw.co.uk ibblaw.co.uk


less regulation in this sector compared to mainstream banks.


As support from alternative lenders continues to grow, when looking to expand your business, it can be helpful to look further than what may be your first port of call, your bank. Although, as highlighted above, the alternative options should be thoroughly researched and approached with a degree of caution.


Submit your questions for the next edition to:


askibb@ibblaw.co.uk


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