21/10/2026
π· Could high-cost loans be putting your business under pressure?
New research from Responsible Finance warns that some small businesses are taking out several high-interest online loans to manage cash flow. π
Refinancing through a community development finance institution (CDFI) could cut repayments by an average of Β£120,000 a year. The research also found that commercial finance brokers were involved in 70% of the high-cost loans. π
If you are considering business finance, check the total cost, affordability and broker fees before signing an agreement. β
Responsible Finance is calling for clearer pricing, stronger affordability checks and broker fees to be disclosed upfront, helping small businesses make informed choices. π€
Read the full research: Responsible Finance https://loom.ly/1LXcqG0