Sage partners with MarketInvoice and Funding Circle to help businesses access finance
Accountancy software firm's deal with alternative lenders will enable small and medium UK companies to "easily apply" for additional funding
Business software and services company Sage has partnered with London-based alternative finance providers MarketInvoice and Funding Circle to help “accelerate” funding for the UK’s small and medium businesses.
As of today, its accounting package Sage 50 Accounts is integrated with peer-to-peer (P2P) invoice lending service MarketInvoice and will enable small firms with revenues of £100,000 to £5m to apply for funding through the platform.
Similarly, its partnership with Funding Circle – the fast-growth marketplace for P2P business loans – will seek to help more businesses borrow growth capital of between £5,000 to £1m.
Sage has said the deal “represents its ongoing drive to improve access to finance” and Sage Group’s UKI managing director, Lee Perkins, has commented that the partnerships give businesses the “ability to swiftly and easily apply for additional funding to support their business development and growth”.
Funding Circle co-founder and 2012 Young Gun, James Meekings (pictured), said: “Partnering with Sage will allow us to grow awareness and trust, bringing more competition and efficiency to the small business lending market.”
Anil Stocker, co-founder of MarketInvoice and a member of Growing Business Young Guns, added:
“We already support many of the UK’s most exciting, high-growth small businesses, and this partnership will make even more of these companies aware of how we can support them.”