It estimates that during the period, the amount of funding provided rose by about 11.7 per cent a month, equivalent to about
Fleximize, which offers loans and revenue-based finance _where repayments are higher in good months and lower when income drops _believes online alternative business lenders might have provided more than
Max Chmyshuk, founder and managing partner at Fleximize, said: 'Reaching the billion pound lending benchmark is a huge milestone for alternative lenders in the small firms sector. As the industry works more closely with government and banks, alternative finance will become better recognized, allowing us to reach
'We are hopeful that legislation encouraging banks to work with alternative finance institutions will be introduced.'
Businesses used online lender MarketInvoice to get funding against invoices of
40 per cent more than its previous record and more than in the whole of 2012.
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