We are accredited under the Coronavirus Business Interruption Loan Scheme (CBILS). Check your eligibility & apply today. Find out more →

  • Views from the flipside
  • UK Small business overdrafts reducing by £5m per day

Views from the flipside

New figures from the Bank of England reveal that small businesses have had their overdrafts cut at a rate of £5m per day since 2011.

Additionally, a survey produced by online alternative finance platform, Funding Options, details that around 17% of SMEs have reported that their overdrafts were removed completely in the last two years, with of 30% also experiencing extra reductions imposed.

Our Managing Director, Peter Alderson says increasingly, we are seeing evidence that SMEs are unable to rely on traditional overdrafts as a working capital tool.

Without an overdraft facility, small businesses could be vulnerable especially when it comes to unexpected high bills or dips in sales, and could potentially lose out on opportunities to expand or improve their business.

There are however, other alternative funding options available to SMEs who are unable to access finance through traditional bank lending.

Peter adds that small businesses can sometimes be unaware of the range of finance options available to them, but with banks still reluctant to provide working capital to SMEs, and more are starting to consider alternative funding solutions.

This is especially true for seasonal businesses who may struggle if overdrafts are withdrawn or reduced during peak seasons.

LDF offer unsecured loan products which can help spread the cost of key expenditure including: income tax, corporation tax and VAT liabilities.


T: 01244 527300 | info@ldf.co.uk

Why choose White Oak UK?

  • No red tape, so you can receive funds in as little as 24 hours
  • We accept 4 out of every 5 applications
  • Apply quickly and easily with E-sign loan documents
  • You’ll always speak to the same person
  • Free up cash flow for other areas of your business
  • Tailored finance agreements to suit your specific needs

Views from the flipside

What our customers say

We could not have been happier. Banks as usual were a nightmare - they took over six weeks to eventually refuse for vague reasons unexplained. White Oak UK were professional, helpful, friendly, and best of all, fast.

credit-awards2018 Winner - Flintshire Business Awards leasing-life-award2018 leasingworld2018-1 SME Awards - Alternative Funder of the YearInnovator of the Year 2016Business Comparison Asset Finance Lender Award Growing Business Award - Amazon