- Finance: MarketFinance expected to lend £500m in 2020 to UK SMEs through their network of UK commercial finance brokers.
- Partnerships: Build closer ties with established and accredited commercial finance brokers across the UK to showcase innovative funding solutions for UK businesses.
- Awareness: MarketFinance aims to support more businesses across the UK through NACFB initiatives.
9th March 2020, London: Fintech business lender MarketFinance has today become a Patron of the National Association of Commercial Finance Brokers (NACFB).
Becoming a patron underlines a commitment from MarketFinance to the commercial finance broker community and acknowledges the important part they play in helping UK businesses grow and flourish. Over the past 7 years, MarketFinance has advanced almost £830m to businesses via introductions from commercial finance brokers. It is anticipated, in 2020 alone, MarketFinance will advance almost £500m through their network of UK commercial finance brokers.
Graham Toy, CEO of NACFB, commented: “We’re delighted to welcome MarketFinance to our community. MarketFinance will feature at NACFB events, seminars, training sessions and networking opportunities across the whole of the UK throughout the year. They were the first to market with their innovative invoice finance solutions and have now entered the business loans market. This is the kind of choice and innovation we want to present to business owners when thinking about how to finance their companies.
Christopher Findlow, Head of Partnerships at MarketFinance, commented: “Commercial finance brokers have made a significant impact, helping UK businesses get the finance they need to grow. They build deep relationships with business owners across the country and are able to get into the detail of what they need.”
“Almost a third of our lending has been enabled by the strength of our relationships with these important business advisers. Conversely, our technology-focussed lending approach has made the experience efficient for them. Similarly, for business owners, we providing them with a brilliant customer experience and getting funds to them fast.”
Recent MarketFinance business highlights:
- Name update. Changed name from MarketInvoice to MarketFinance. This now represents the broader choice of finance solutions on offer for businesses.
- Launched business loans. Lending up to £250,000 over 3 years to businesses. This will scale to facilities worth £1m+ over next few years.
- Corporate Solutions. For larger businesses, providing credit facilities of up to £5m and up to £500k as a business loan (flexible term, up to 3 years)
- Equity and debt fundraise. Raised £56m in funding round backed by Barclays and Santander
- Barclays partnership. Launched the first ever fintech-bank partnership to support UK businesses. This is live across the country, 1500 Barclays relationship managers are now actively referring customers for MarketFinance invoice finance solutions.
Christopher Findlow added: “We look forward to working with and supporting more commercial finance brokers in the UK through NACFB. This will enable us to service the demand from the thousands of small businesses who use their broker panel.”