Sage Pay and Liberis announce partnership to help start-ups access flexible finance
Small business owners will be able to advance up to one month's card takings to use for cashflow or growth needs
Sage Pay has entered into a collaboration with alternative business finance provider Liberis to help small business customers access flexible finance.
Sage Pay Business Finance will offer business owners an advance of up to one month's card takings as capital to use for stock, refurbishment, cashflow, and to fuel growth.
Sage Pay customers charged one fixed, upfront fee and are able to use the service without interest, APR or hidden costs.
The service will be delivered by Liberis and backed by the UK government-owned British Business Bank Investments. Liberis has helped more than 5,000 businesses secure more than £150m of funding since 2007.
Seamus Smith, executive vice president of global payments and banking at Sage, said: “In support of our movement of money strategy, we’re delighted to extend the range of value-added payments & banking related services we provide to businesses that can help them grow.
“Sage Pay Business Finance, provided by our trusted partner Liberis, offers flexible finance solutions. This is a great new service and one we think will be popular with our customers, which allows them to choose the right finance to fit their business model.”
Rob Straathof, CEO of Liberis, added: “We are proud to work with Sage Pay, providing access to finance that some UK business owners may feel doesn’t currently exist for them with fast approval times. Our customers love the way our product mirrors their card takings, working with them to help them realise their plans without the stress of fixed repayments.”