MarketFinance raises £ 100 million in Deutsche Bank loans to finance UK SMEs
The Federation of Small Business’s (SBI) Quarterly Small Business Index (SBI) recently showed that corporate lending in the UK has reached an all-time low with less than one in ten (9%) small firms applying for financing in the first quarter of 2022 – the lowest share since the start of the SBI record.
Followed by the London Technological Credit and Payment Company MarketFinance replenished £ 100 million as a loan from Deutsche Bank. The company will use the new cash to offer new lending to support UK small and medium-sized businesses with their investment and working capital needs. This will include loans to 3.2 million sole proprietors and partnerships in the UK
Under financial technology, small and medium-sized business borrowers in the UK will now be able to get between £ 10,000 and £ 500,000 within 24 hours of applying to help their growth plans.
With support Northern Zone, Barclays Bank Great Britain and Mouro Capital, the credit platform aims to deprive finances without problems by addressing payments and cash flows. MarketFinance uses smart technology to provide better access to faster and more affordable payments and finances with personalized assistance whenever businesses need it.
Marion Delil, vice president of capital markets at MarketFinance, said: “Closing a financing deal with a highly qualified institution like Deutsche Bank is a major milestone for our business and a testament to our experience in lending, our technology and our people. This mechanism will allow us to continue our mission to make finances unhindered for our SMEs. ”
“MarketFinance continues to innovate, serving individual entrepreneurs and partnerships, accepting the transition to embedded funding. We make our products available across key platforms, helping businesses manage their payments and get seamless access to finance when they need it most. Businesses need funding in both good and bad times, and we are here to support them, ”he added. Anil StokerCEO and co-founder of MarketFinance.