Fintech platform MarketFinance has announced a loan extension from Deutsche Bank that the company will use to raise loan funds up to m 100m to support strong, well-managed SME businesses with their investment and working capital demand.
The announcement comes at a time when the Federation of Small Business (FSB) quarterly Small Business Index (SBI) results show that UK business lending has reached an all-time low with less than one in ten small firms applying for money. In the first quarter of 2022 – the lowest ratio since the start of the SBI record.
MarketFinance announced today that it is expanding its lending capabilities to include limited companies and LLPs services, including the UK’s 3.2 million sole traders and low-serviced SMEs to provide partnerships, competitive rates and conditions.
With the fastest credit decisions and payments on the market, UK SME borrowers – the backbone of the economy – will be able to access between £ 10,000 and £ 500,000 within 24 hours of applying to help plan their growth.
“Closing a funding deal from a high-powered institution like Deutsche Bank is a huge milestone for our business, and our track record of lending is a testament to our technology and our people.” What’s more, this facility will allow us to continue deliveries on our mission to make money for UK SMEs non-abrasive, “said Marion Delill, VP Capital Markets, MarketFinance.
Anil Stocker, CEO and co-founder of MarketFinance, said: “The fintech movement started in the shadow of the 2008 financial crisis and has since become an integral part of the UK finance ecosystem and has been exported worldwide. Companies like MarketFinance were there to help during the Kovid epidemic. We continue to innovate by providing sole proprietorships and partnerships for the first time and taking steps in embedded finance.
“We make our products available through the core platform, helping businesses manage their payments and have seamless access to money when they need it most. Businesses need funding at good times and bad, and we’re here for them, “he added
Born in the shadow of the 2008 financial crisis, MarketFinance operates a proprietary fintech platform that makes access to highly competitive business loans and working capital for UK SMEs frictionless – with the fastest credit decision on the market.
The business recently announced that it will reach profitability in 2021. It was driven primarily by business demand for effective capital in epidemics, product development to provide embedded payments with core business-to-business platform partners, and its role as a distribution partner for it. British Business Bank lending schemes, CBILS and RLS.