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Transcript: Do you need a bank for capital?

No you don’t. Something weird happened in the last 10 years. As banking regulations became more complicated after the crash in 2008, and banks became harder to deal with and more expensive, the fund managers out there became quasi bankers. In fact they often stocked their offices with ex bankers like me.

The gap opened because of price, but also because business
owners were prepared to deal with anyone who could make a decision quicker than
a bank. It was great for me because it meant that as an independent capital
provider, I had an unlimited range of capital providers I could tap into to
help my clients. But it put a burden on me to figure out exactly how lending
decisions are made, and that gave rise to an online MasterClass in raising
capital for business to solve the mystery around exactly how lending decisions get
made; and fair warning – it’s not how you think they’re made.