Liquid Finance Receives Line of Credit from Shawbrook

Liquid Finance Receives Line of Credit from Shawbrook
21.04.2015 01:00 am

Liquid Finance Receives Line of Credit from Shawbrook

Banking

Liquid Finance Partnership Ltd (LFPL), a leader in the Merchant Cash Advance sector of the fast growing Alternative Funding market, today announced the establishment of a line of credit with Shawbrook Asset Finance, a division of Shawbrook Bank. The move will enable LFPL to significantly increase its ability to fund the growth of more small businesses across the UK through its Merchant Cash Advance product.

“Small businesses are integral to the future prosperity of the UK economy and it is vital that these businesses have access to the necessary funding they need in order to grow and prosper. We are pleased to extend a line of credit with Liquid Finance Partnership Limited, which has a simple, flexible product that provides working capital that can be used for any purpose that helps a small business grow,” said Paul Tagg, Director at Shawbrook Asset Finance.

“We are delighted to be working with Shawbrook. Its support will enable us to fund even more UK businesses thereby helping them to grow. We are seeing more and more demand for cash advances as these businesses recognise the growth capital advantages of our product,” said Richard Morley, Director of European Development at Liquid Finance. 

LFPL provides unsecured cash advances to businesses that take credit and debit cards through its Merchant Cash Advance product.  It applies a factor rate “fee” to the advance and purchases an agreed daily percentage of the business’s future card receivables until the advance plus fee is paid.  Funding is provided within as little as 5 working days - from application to cash in the bank. Uniquely, via an FCA regulated sister company, Liquid Finance is able to automate daily batch settlements, thus avoiding having to change card processor, entering into a lock box or another form of repayment. 

Related News

Global banking technology leader Avaloq to reach net zero emissions by Q3 2020

Avaloq, a global leader in digital banking solutions and wealth management technology, is on track to reach net zero emissions by the third quarter of this year, one of a... Read more »

Temenos Wins Google Cloud Technology Partner of the Year Award for Financial Services

 Temenos (SIX: TEMN), the banking software company, today announced it has been recognized by Google Cloud as its Technology Partner of the Year in Financial Services. This... Read more »

Wolters Kluwer Innovates with New Banking Tech Launch to Facilitate Paycheck Protection Program

Wolters Kluwer Compliance Solutions has launched a dedicated banking technology solution, utilizing its market-... Read more »

More than 90% of UK consumers claim technology offering impacts their choice of bank, fintech finds

 Research conducted by new entrant to the UK fintech market, Modularbank, in partnership with market research specialists, OnePoll, has found that over 90% of... Read more »

Pannovate partners up with Salt Edge to deliver instant PSD2 compliance

Pannovate, UK’s leading payment and digital banking technology company, has partnered up with Salt Edge, leader in offering open banking and secure customer... Read more »

National initiative launched by Fintech Tully aims to help 17 million people in the UK who have been financially impacted by COVID-19

Tully, Nottingham-based Fintech, has today announced the launch of their COVID-19 Relief and Wellbeing Network to help people financially impacted by the COVID crisis get... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel