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<p>The Bank Referral Scheme helps businesses which are viable, but do not fit the
risk appetite of the traditional banks, to access the finance they need to grow and
expand. Banks designated by the government are required to refer SMEs they decline
for finance, with the SME’s permission, to designated finance platforms that can match
SMEs with alternative finance providers.</p><p> </p><p>As of 11 August 2017 over 8,100
SMEs had been referred to the finance platforms, and 230 businesses had received funding
totalling £3.8m from alternative finance providers.</p><p> </p><p>The government has
announced its intention to designate another finance platform, Alternative Business
Funding, on 1 November 2017. Further data will be released in due course.</p>
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