“ Accessing certain markets (banking, bonds etc.) is not always feasible for SMEs. Crowdlending allows those companies to get a new source of funding for their growth alongside more traditional channels. As such, we are committed to support October’s initiative and this innovative operation. ”
SMEs have now been able to borrow through alternative sources alongside the traditional banking system for 4 years.
Grow Together is an operation conceived by October, the first SME lending platform in continental Europe. Thanks to October already more than 500 SMEs have borrowed 240 million euros from a large community of private lenders and institutional investors. More information on october.eu
Leading the way
Large corporates are used to borrow outside of the banking system and to diversify their sources of funding. In contrast, SMEs often only rely on banks.
And yet! Since October 2014, a new reform in France allows them borrow directly from a crowd of individual and institutional lenders, alongside the traditional banking system. Small and medium businesses now have a choice. This is our job at October.
11 large companies
rallying to support better financing solutions for SMEs.
AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JCDecaux, SUEZ, Unibail-Rodamco-Westfield and Webhelp are paving the way towards funding diversification for SMEs by symbolically borrowing € 1 100 000 on aggregate through the October platform. For its part, the crowdlending platform will lend € 11 000 000 with no handling fees to SME’s affiliated to the 11 sponsors.
SME: Are you eligible for the Grow Together scheme?
If you are a partner or a client of one of the following groups, just click on its logo to request a loan with no processing fees. Else, you can test your eligibility directly on October.
Private lenders :
lend to an industry and its ecosystem through October
Be exceptionally part of the financing process to support large groups and European SME's altogether in a few clicks through October. Learn more.