MarketFinance Eases SMB Financing With New Features

United Kingdom-based MarketFinance, which serves small businesses with financing solutions, has recently rolled out an upgraded MarketFinance account, according to a blog post from the company.

Customers can have one look into all their solutions and important data with the enhanced solution. They also have simple management of available funds and future repayments. Moreover, customers receive smooth navigation to every solution dashboard.

In addition, customers get access to new solutions customized to their requirements and application tracking as well as progress notifications.

“With everything from your repayment information and available balances to application progress updates now in one place, funding your business has never been more frictionless,” the company said in the announcement.

MarketFinance also revealed a “flex loan” to be its latest financial tool, which equips small and medium-sized businesses (SMBs) with flexible access to money if they need an infusion of immediate cash.

Customers can borrow funds whenever they would like — up to an agreed limit that ranges from £5,000 (approximately $6,838) to £50,000 (approximately $68,380). They can select a repayment schedule that suits them and the requirements of their companies. Also, customers can opt to withdraw the complete amount in a single instance. Alternatively, they can access small amounts at times of their choosing.

“Your available balance will adjust automatically to reflect how much you’ve withdrawn versus how much you’ve repaid, so you can withdraw a flex loan multiple times. And best of all, you only ever pay for the funds you use,” the company said in the announcement.

MarketFinance says that customers can get more out of a flex loan if they use it in addition to their current finance tools. To that end, a flex loan can be harnessed to manage a firm’s less sizable and more frequently occurring operational expenses if it already has an invoicing finance solution or a bigger business loan.

Last September, MarketFinance secured £50 million (approximately $65.8 million as reported at the time) loan investment from Viola Credit to go toward lending for the U.K. Coronavirus Business Interruption Loan Scheme (CBILS) program.