MarketInvoice joins NatWest’s SME finance panel
MARKETINVOICE is the latest alternative lender to join NatWest’s small- and medium-sized enterprise (SME) finance marketplace.
The business finance company joins peer-to-peer lenders Funding Circle and Assetz Capital on Capital Connections, as well as working capital provider iwoca and five other alternative funders.
NatWest’s platform enables SMEs to access other sources of capital if they are rejected by high street banks.
“Featuring on this panel will broaden our reach and help even more businesses achieve their goals,” said MarketInvoice chief executive and co-founder Anil Stocker (pictured right).
“Companies across the UK are choosing to diversify funding sources with more than £4bn advanced through alternative finance firms.
“As the first invoice finance provider on the panel, we will be able to showcase how invoice finance can help businesses of all sizes and work with them to find the right solution. Enhancing access to borrowing is essential for jobs and economic growth.”
“As the biggest supporter of British business, we understand that traditional funding routes are not always the best option for fast growing start-ups,” said Alison Rose, chief executive of commercial and private banking at Natwest.
“Through Capital Connections we’re able to signpost a broad choice of funding options through its impressive range of alternative lenders.”
MarketInvoice purely focused on invoice finance until last November, when it expanded into unsecured business lending.
The Peer-to-Peer Finance Association member hit the £2bn lending milestone in March and expects to reach £3bn of cumulative lending by the end of the year. New institutional funding lines have helped the platform service larger businesses with bigger funding requirements.