MarketInvoice rebrands and launches business loans

The announcement coincided with a rebrand of MarketInvoice, as it looks to mark its evolution into a business finance company.

Companies will be able to obtain unsecured business loans from £10,000-100,000 over a 12-month term with no early repayment fees, and MarketInvoice will increase its support for businesses requiring working capital around their invoice finance requirements.

The loans will be funded through the MarketInvoice platform, where investors include a mix of sophisticated investors and, increasingly, more institutional money from banks and asset managers.

UK businesses applying for a MarketInvoice business loan require a minimum turnover of £70,000 and need to have been trading for at least six months.

“We're always looking for more ways to help businesses get the funding they need, that's why we're excited with the launch of our loans solution,” said Anil Stocker, co-founder and CEO of MarketInvoice (pictured above, right).

“This fits into our goal to support a wider range of companies and to give owners the help they need to focus on their business ambitions, rather than their funding challenges.”

The launch of the business loans followed beta testing over the past three months, where over £1m was advanced to UK businesses.

Business loan customer Melanie Goldsmith, co-founder of edible cocktail pastilles Smith & Sinclair, said the experience was seamless.

“We’re growing 100% year-on-year and as we head into the Christmas period, the business loan from MarketInvoice helped us to order the stock we needed to fulfil orders to individuals and large national retailers.”

MarketInvoice has funded over 70,000 invoices worth over £1.6bn since 2011 and Anil added that entering the business loan space – with a £35bn annual market – was a natural move for the lender.

“Our experience in underwriting business credit – coupled with our technology and people – means we are well-placed to serve this demand.

“To coincide with this product launch, our new brand and marketing campaign this month will help raise awareness among British businesses that MarketInvoice is here to help.”