Firing the first shots on “intended designation”

Date 9th February 2017 //
Author Adam Tavener

Yesterday’s Budget contained an important nugget, albeit not a headline-grabbing one. The Treasury has published the names of the first platforms that have reached ‘intended designation’ status.

Although not yet included in the list, ABF considers this to be a significant milestone in the long-term goal of the creation of a community of differentiated platform offerings serving the needs of SME customers seeking funding. It is also evidence of real progress.

We congratulate those who have made the first intake and look forward to joining you very soon as we continue to work very closely with the British Business Bank in ensuring that the ABF offering joins the next cohort of designated sites.

It is something of a happy coincidence for us that the Budget announcement predates the rollout of our own significantly enhanced version 1.3 which will provide both a commercial framework and also another technology first for funders seeking clear and detailed visibility of applicant businesses before engaging.

So, the starting gun has been fired, a new paradigm in SME funding is a step closer to reality, and we are all hopeful that the initiative will succeed.

We say well done BBB for a good job done so far.