MarketInvoice reveals £20m boost for Greater Manchester entrepreneurs

Peer-to-peer business lender MarketInvoice has hit a new lending milestone in the North West as it celebrates its first anniversary in partnership with the Greater Manchester Combined Authority (GMCA).

The firm has so far seen £20m lent in approximately 250 loans to entrepreneurs in the Greater Manchester area, over half of which were issued in the last 12 months.

MarketInvoice co-founder Anil Stocker said: “We’ve always had a strong presence in the Manchester region, and the city is very much a part of our business’ identity, with our very own Northern branch just off Albert Square.

“It’s great to see more and more businesses in the region using alternative finance to access much-needed funding”, but we know Manchester’s business owners need more support to fulfil theirs – and the city’s – big ambitions.”

He added: “With the help of local partners such as the GMCA, we want to ensure every exciting and ambitious business in the region has access to finance.”

When the GMCA agreed to the partnership with MarketInvoice in November 2014, it committed to investing up to £16m per year in Manchester enterprises via MarketInvoice.

One of the London firm’s Salford-based customers, healthcare software business Aura Healthcare, has traded over £1m in invoices through MarketInvoice.

Aura Healthcare MD Mark Hindle commented: “MarketInvoice has helped shape our business and given us the confidence to make the bold decisions needed to fuel growth.”

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