Business finance company MarketInvoice, has launched a new specialist team to provide finance facilities for Britain’s larger businesses. Having provided over £2.6 billion in invoice finance and business loans since 2011 to UK SMEs, MarketInvoice is now turning its attention to the larger businesses (turnover up to £50m), estimated to be a £13b finance market, with the launch of their Corporate Solutions offering.
Craig Flyger, Corporate Solutions Director at MarketInvoice, said “We’re delighted to be able to serve larger businesses with their finance needs. These are high-growth companies forging new ground by transforming their industry, growing internationally and driving UK GDP. We want to power and propel their growth. Our team has the necessary experience and resources to structure larger facilities tailored to the needs of these businesses very quickly.”
Marvin Patel, MD at growing business Infinity Energy, which is expected to double revenue from £11.1m in 2018 to £20m this year, said “We chose MarketInvoice as a finance partner to tackle long payment terms. As we’ve grown, we’ve needed larger credit limits. Now that we’re taking on bigger projects with more complex contracts, we needed a larger finance facility. It’s great to continue our relationship with MarketInvoice”.
Flyger added “We’ve launched Corporate Solutions to serve the needs of the companies who are currently falling into a no-man’s land between business banking and corporate banking. We estimate that the annual lending opportunity to these companies, who are grossly underserved and ignored by traditional business lenders, is worth £13b. Our solid track record in providing greater access to finance and responsible lending decisions is not only testament to our robust platform and credit risk model, but also to the trust business owners have placed in us as their financial partner”.