Bank Lending Down for Small Businesses in the UK

The trend of small businesses turning away from bank lending is not limited to the US- it’s worldwide. According to a recent survey, UK small-to-medium enterprises (SMEs) are at a record low for bank funding, just like their American counterparts. These results most likely come from a combination of the poor European business climate and the assumption that banks will not approve loan requests anyway. Success rates for small businesses trying to secure loans stand at about 42%. Banks in the UK were also rated low in communicating other sources of funding to denied applicants.

This survey helped show that banks are a tough source of financing for SMEs all over the world. Applications are time intensive, credit checks are necessary, and the approval process takes weeks. After approval, which is not likely in the first place, disbursement of funds can take anywhere from 30-90 days. For some small businesses in certain industries, waiting that long for cash is not feasible. Alternative financing, including factoring, is becoming more mainstream and popular as banks continue to turn away SMEs.

For the full article, see Small businesses turn their backs on banks

PRN Funding Exhibiting at Private Duty Conference

Las Vegas, NV- For the fourth year in a row, PRN Funding, LLC will be exhibiting at the 15th Annual Private Duty National Conference and Expo. The event is taking place from November 14-16th at the Monte Carlo in Las Vegas, and will feature the home care industry’s best and brightest providing tips and solutions for making the best business decisions.

Account Manager Ryan Elliot and Marketing Associate Stephanie Chmielecki will be in booth #204 offering information on PRN’s invoice specialty factoring services, which includes factoring for home health care agencies.

Stephanie and Ryan will also be holding daily casino chip giveaways. Visitors of booth #204 will be entered into drawings taking place on 14th, 15th, and 16th at various times. Contest winners will receive casino chips, get their picture taken, and receive free publicity on PRN’s social media and blogging sites. If you are attending the conference, be sure to stop by!


With years of experience in the healthcare industry, PRN Funding has a precise understanding of the unique challenges within the private duty and homecare industry.  PRN Funding offers financial resources to these companies by purchasing their accounts receivable–a process known as ‘factoring,’ which provides the cash needed to sustain and grow a healthcare business.

$30M Investment Helps Kabbage Keep Growing

Kabbage, an online financial service, plans to expand internationally with its recently raised $30 million dollars from providing working capital in less than seven minutes. Company CEO Rob Frohwein cites the lack of available capital for small companies the reason behind his company’s recent growth. Kabbage, one of the first companies to advance loans to “mom-and-pop” merchants, is the provider for online sellers to purchase inventory and resell them on eBay, Amazon, etc. The company makes their funds by taking a fairly small percentage of the advanced capital. Due to their success, the company is attracting investor attention from key investors of blockbusters Google, Facebook, and PayPal. Since last summer, Kabbage has managed to more than double their value with the new capital, in which they aim to devote in supply development, sales, marketing, and expansion into the United Kingdom. Not only is the company planning to diversify geologically, but also beyond the online merchant market. With the apparent financial growth, Kabbage expects to add jobs and square-feet to its office in Midtown Atlanta office. See the full story $30M Investment Helps Kabbage Keep Growing.

Nuance Announces Proposed $350 Million Offering of 5.375% Senior Notes due 2020

Burlington, Massachusetts based Nuance Communications, Inc. will add approximately $200 million to acquisition war chest as a portion of a $350 million bond offering. Although the Senior Note is unsecured, it is fully and unconditionally guaranteed on a Nuance’s domestic subsidiaries. Nuance plans to repurchase the notes from holders upon a change of controls at 101% of the principal amount as well as any accrued and unpaid interest, nearly $354.2 million dollars with which they will use to repay debts and acquisitions. See the full story Nuance Announces Proposed $350 Million Offering of 5.375% Senior Notes due 2020.