17th Mar 2016 14:05
LONDON (Alliance News) - GLI Finance Ltd on Thursday said Funding Options, an investee company of GLI, has been recommended to go forward for designation for the UK's Bank Referral Scheme.
GLI said the British Business Bank has recommended Funding Options, a platform which connects businesses to lenders, be put forward for designation by HM Treasury.
Business which are rejected for finance by high-street banks will be able to seek new financing options under the scheme, announced in the UK government Budget on Wednesday.
Funding Options will be designated as one of only three finance platforms which will help to match borrowers and alternative lenders.
GLI invested in Funding Options in May 2015, taking a 29% stake in the business.
GLI shares were down 2.1% to 30.10 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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