Liquid Finance provides funding to ten micro-businesses a week
Liquid Finance Partners has funded over 650 micro-business projects over the last 18 months.
Since the start of 2015, the Leatherhead-based firm has been funding over ten new UK micro businesses every week.
With an average transaction size of £20k per customer, Liquid Finance is funding to the fune of over £200k a week.
There are approximately one million micro businesses in the UK, accounting for 10% of the UK SME market (5.2 million businesses in the UK according to FSB (Federation of Small Businesses).
Richard Morley (pictured right), director of European Development at Liquid Finance said: “Unlike other alternative funding providers, who predominantly serve SME’s, Liquid Finance focuses on helping micro businesses – businesses with an annual turnover of less £2.5 million.
“90% of these micro businesses wouldn’t fit the funding requirements of the typical alternative lenders. We provide funding in as little as five days, which is a lot quicker & more flexible than traditional loan options,”
Merchant Cash Advance plays an integral role in the fast growing Alternative Funding market, which is currently worth £1.8bn and is expected to more than double over the next 12 months to £4.4bn.
Liquid Finance own 30% of the Merchant Cash Advance market, which is currently worth £60m and predicted to grow to £250m in 24 months.
Morley continued: “Micro 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 require, in order to grow and prosper. Our approach to funding means it is in our interest for micro businesses to succeed and prosper.”
One micro business that has benefited from Liquid Finance’s cash advance is Robert Willoughby, licensee at The Stags Head, he commented: “I really like the concept of the Liquid Finance cash advance and it suited my needs very well. You get a cash lump sum to help your business grow and then you pay it back through a percentage of your card takings.
“They don’t take too big a bite, if you only process £50 through your card machine, then they only take a percentage of the total. The advance helped us get through a difficult patch and also upgrade in crucial areas such as signage, in the kitchen, toilets and bedrooms.”
This was posted in Bdaily's Members' News section by Ellen Forster .