Trade association the Kbsa has introduced a member benefit which means its members can now access business funding.
The partnership with peer-to-peer lending company Funding Circle offers members the opportunity to raise funds, with a discount off the usual fee.
National chair of the Kbsa Richard Hibbert said: “This is a great benefit for our members. Funding Circle has a fantastic track record of lending to small businesses.
“I have used the company for my own business and found it to be so much easier than dealing with the banks.
You can pay off the loan when you like, without penalty. It is very easy to apply and I had the money within two days.”
The funds can be used for working capital, expansion plans, refinancing a loan, tax payments with terms varying form six months to five years, with no early repayment fees.
Unsecured loans are available from £10,000 to £500,000 for Limited companies and larger partnerships, and £25,000 to £250,000 for sole traders and small partnerships.
Richard Hibbert added: “We anticipate great demand for this service. We have introduced it as part of our commitment to supporting our members and providing benefits that can make a difference to their business success.”
The Kbsa operates specifically for the kbb industry and represents independent kbb specialists.
Founded in 1978 and supported by over 100 brands, the Kbsa recently added 10 retail members to its numbers.