MarketFinance and Ebury: joining forces to shape the future of fintech lending
We've partnered with Ebury to to speed up SME access to CBILS funding and more.
We’re thrilled to announce the launch of our partnership with fellow fintech, Ebury. With CBILS applications closing on 30 September, our initial focus will be getting this government-backed funding into the hands of as many SMEs as we can. And after that? Well, let’s just say we’ve got a long and collaborative future planned together.
Who is Ebury?
Established in London in 2009, Ebury is one of the UK and Europe’s largest and best funded fintechs. Juan Lobato, CEO and founder, created Ebury to make it easier for businesses to grow internationally.Over the years Ebury has become the biggest fintech global transaction platform to help businesses trade abroad. Ebury’s platform enables businesses to make cross-border payments, receive international collections, manage currency risk and access finance.
How will MarketFinance and Ebury be working together?
First and foremost, we’ve joined forces to help even more SMEs access essential working capital through the Coronavirus Business Interruption Loan Scheme. This year has brought untold disruptions to businesses across every sector. With fee and interest-free CBILS funding, businesses can not only get back on track but thrive long into 2021 and beyond.
In addition to their leading cross-border finance options, Ebury’s SME customers will now have direct access to MarketFinance’s hassle-free CBILS loans, flexible CBILS revolving credit facilities and other non-CBILS funding solutions.
With a CBILS loan, Ebury customers can now access between £50,001 and £150,000 over 2 to 3 years. They’ll also have the flexibility to choose our no-payment option. In other words, opt not to make any repayments for the first 12 months so they only start paying off your loan in year two. Here are the key features:
- Between £50,001 and £150,000
- No fees, interest or repayments for 12 months
- No need for a Personal Guarantee
- Option to refinance a Bounce Back Loan
Similar to invoice finance, a CBILS revolving credit facility allows businesses to advance up to £5 million against outstanding invoices and withdraw funds that aren’t due to be paid for 30, 60 or even 90 days. When the invoices are settled by their clients, the debt is repaid. A business can repeat this simple withdraw → spend → repay cycle whenever they need to.
Normally businesses would pay service/subscription and listing fees plus interest on the funds they advance for a facility like this. But with CBILS, the government carries those costs for the first 12 months. Here are the key features:
- Between £50,001 and £5 million
- Invoice-backed funding on demand
- No fees or interest for 12 months
- Option to combine with a CBILS loan
What does the future look like for MarketFinance and Ebury?
Collaborating to speed up access to CBILS funding is just the first of many steps we’ll take together as partners. Once the scheme ends on 30 September, MarketFinance will continue to deliver seamless funding solutions to Ebury customers including invoice finance and business loans.
Collaboration is deep rooted within our culture at MarketFinance and forging strategic partnerships with other innovative fintechs like Ebury is key to executing on our vision. We exist to make finance accessible, easy-to-use and affordable for viable small businesses globally. This is, in large part, why partnering with Ebury makes so much sense.
We’re extremely excited to be working with Ebury and looking forward to what the future holds for us. This is only the beginning.