MarketInvoice rebrands and introduces business loans to its customers

MarketInvoice has launched its first ever business loans today (November 1) aiming to expand its presence in the business finance space.

This is said to complement the company’s invoice finance solutions suite. This announcement comes as MarketInvoice is also rebranding into more of a business finance company.

Businesses should now be able to obtain unsecured business loans from £10k to £100k over a 12-month term with no early repayment fees. With this launch, MarketInvoice aims to support more businesses that require capital around their invoice finance requirements.

Business loan customer and co-founder of Smith & Sinclair, Melanie Goldsmith, said: “It was a seamless experience. We’re growing 100 per cent year-on-year and as we head into the Christmas period, the business loan from MarketInvoice helped us to order the stock we needed to fulfil orders to individuals and large national retailers.”

Business loans will be available to all UK businesses with a minimum turnover of £70k which has been trading for at least six months. The solution has been beta-tested over the last three months and during this period, over £1m was advanced to UK businesses.

Building on the technology underpinning their successful invoice finance solutions, which have funded over 70,000 invoices worth £1.6bn to date, MarketInvoice business loans aim to be equally fast to set up and easy to use.

Anil Stocker, co-founder and CEO, commented: “We’re always looking for more ways to help businesses get the funding they need, that’s why we’re excited with the launch of our loans solution.

“This fits into our goal to support a wider range of companies and to give owners the help they need to focus on their business ambitions, rather than their funding challenges.”

MarketInvoice’s main strategic ambition is to broaden its reach to be able to support a wider range of businesses, from startups to larger businesses looking to scale up.

Business loans will be funded through the MarketInvoice platform.

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