Praetura Group has rolled out a new financial division to help small to medium-sized businesses (SMBs) to access flexible finance, the company announced on Thursday (August 5) via a press release.
Called Praetura Invoice Finance (PIF), it will be led by Managing Director Ray Lowrey.
“SMEs [small to medium-sized enterprises] are the backbone of the UK’s future economic growth and their success, which is important post-pandemic, often depends on accessing flexible commercial funding that works for them,” Lowrey said, according to the press release. “Invoice finance is the latest example of dedicated support from Praetura Group, which has been helping SMEs across the UK through a difficult period for businesses.”
PIF will be able to help companies access different kinds of support, like funding against unpaid invoices, as businesses are seeking growth despite the pandemic support from the government ebbing.
Praetura has now been around for a decade. “Since 2011, it’s been incredible to see not only the growth of Praetura Group, but also the North’s growing reputation as a globally competitive destination for business growth,” said co-founder Peadar O’Reilly.
“From landmark infrastructure projects to innovative new tech platforms, we’ve met thousands of pioneering businesses who have all contributed to the ever-changing UK economy,” O’Reilly added.
U.K.-based MarketFinance is another company working with SMB financing. That company recently debuted its new upgraded MarketFinance account.
It will give companies a singular view of all their solutions and the data they need, and there will be simple management of available funds, while customers will also have access to smoother navigation.
Customers will also have access to application tracking, progress notifications and custom solutions for their businesses.
MarketFinance has also debuted a “flex loan” financial tool, which will help SMBs access flexible money if they need cash immediately.
“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 an announcement.