Anil Stocker, Co-founder & Director of MarketInvoice comments on yesterday’s announced “Taskforce to boost finance options for businesses”:
“We welcome the announcement by the Department for Business, Innovation, and Skills (BIS) to examine how best to make the UK business funding market more competitive and dynamic. We believe that alternative sources of business finance will flourish over the next 5 – 10 years as the banking sector undergoes structural reform.
“Moreover, the biggest barrier for faster adoption of emerging financing alternatives is simply awareness. New financing platforms lack the branch infrastructure to distribute their products and many owners and managers of small & medium sized businesses (SMEs) have not even discovered that alternatives and complements to traditional bank funding do exist.
“We hope the Government’s timely efforts to promote awareness in alternatives will help more business owners realise their corporate ambitions.
“Here at MarketInvoice, we are approached every day by fast growing SMEs that are searching for a better financing solution than the traditional bank products. Often not able to secure a big enough overdraft, these companies do not wish to enter into long-term factoring contracts and are interested in how our online platform can offer a flexible on-demand invoice finance model, which they can use when they most need it.
“MarketInvoice presents a solution to SME funding problems, by offering businesses the opportunity to auction their invoices due from large corporate debtors to a network of investors in real time and without any hidden fees. SMEs can obtain up to 90% of their invoices upfront from investors who compete between them to provide SMEs with the lowest cost of finance.
“Our customers tend to be service or wholesale companies with revenues between £500,000 and £25,000,000 and include both startups and well-established businesses. Having launched in February 2011, MarketInvoice has helped over 50 businesses and has channelled nearly £3 million to a wide range of British SMEs. (www.marketinvoice.com)”
- ENDS -
For more information contact:
Anil Stocker, MarketInvoice: 02070787621 / a.stocker@marketinvoice.com
For more information visit – www.marketinvoice.com
About MarketInvoice
MarketInvoice is an innovative provider of short-term finance for small and medium companies. It provides a cloud-based online marketplace where companies can selectively sell their invoices issued to large debtors, who often take a long time to pay, to receive cash upfront. Global institutional investors compete among themselves to bid on these invoices and advance cash, enabling companies to grow and cover costs.
MarketInvoice is confidential, fully flexible and transparent: there is no disclosure to debtors, companies have no contractual obligation to sell invoices, do not pay any ongoing fees or arrangement fees and there are no requirements for personal guarantees or all asset debentures.
MarketInvoice provides institutional investors with direct access to the trade receivables asset class and its unique benefits: typically, investors can expect high annualised returns, short investment duration and low risk as invoices are consistently from blue chip debtors and verified by MarketInvoice. MarketInvoice provides all required information investors may need to make an investment decision.
Registered Office: MarketInvoice Limited is registered in England and Wales. Address: 50 Featherstone Street, London EC1Y 8RT (Company No. 7330525)
Anil Stocker of MarketInvoice comments on Vince Cable’s taskforce to boost finance options for businesses
Anil Stocker, Co-founder & Director of MarketInvoice comments on yesterday’s announced “Taskforce to boost finance options for businesses”:
“We welcome the announcement by the Department for Business, Innovation, and Skills (BIS) to examine how best to make the UK business funding market more competitive and dynamic. We believe that alternative sources of business finance will flourish over the next 5 – 10 years as the banking sector undergoes structural reform.
“Moreover, the biggest barrier for faster adoption of emerging financing alternatives is simply awareness. New financing platforms lack the branch infrastructure to distribute their products and many owners and managers of small & medium sized businesses (SMEs) have not even discovered that alternatives and complements to traditional bank funding do exist.
“We hope the Government’s timely efforts to promote awareness in alternatives will help more business owners realise their corporate ambitions.
“Here at MarketInvoice, we are approached every day by fast growing SMEs that are searching for a better financing solution than the traditional bank products. Often not able to secure a big enough overdraft, these companies do not wish to enter into long-term factoring contracts and are interested in how our online platform can offer a flexible on-demand invoice finance model, which they can use when they most need it.
“MarketInvoice presents a solution to SME funding problems, by offering businesses the opportunity to auction their invoices due from large corporate debtors to a network of investors in real time and without any hidden fees. SMEs can obtain up to 90% of their invoices upfront from investors who compete between them to provide SMEs with the lowest cost of finance.
“Our customers tend to be service or wholesale companies with revenues between £500,000 and £25,000,000 and include both startups and well-established businesses. Having launched in February 2011, MarketInvoice has helped over 50 businesses and has channelled nearly £3 million to a wide range of British SMEs. (www.marketinvoice.com)”
- ENDS -
For more information contact:
Anil Stocker, MarketInvoice: 02070787621 / a.stocker@marketinvoice.com
For more information visit – www.marketinvoice.com
About MarketInvoice
MarketInvoice is an innovative provider of short-term finance for small and medium companies. It provides a cloud-based online marketplace where companies can selectively sell their invoices issued to large debtors, who often take a long time to pay, to receive cash upfront. Global institutional investors compete among themselves to bid on these invoices and advance cash, enabling companies to grow and cover costs.
MarketInvoice is confidential, fully flexible and transparent: there is no disclosure to debtors, companies have no contractual obligation to sell invoices, do not pay any ongoing fees or arrangement fees and there are no requirements for personal guarantees or all asset debentures.
MarketInvoice provides institutional investors with direct access to the trade receivables asset class and its unique benefits: typically, investors can expect high annualised returns, short investment duration and low risk as invoices are consistently from blue chip debtors and verified by MarketInvoice. MarketInvoice provides all required information investors may need to make an investment decision.
Registered Office: MarketInvoice Limited is registered in England and Wales. Address: 50 Featherstone Street, London EC1Y 8RT (Company No. 7330525)