We can all agree that the last few months have dealt a pretty big blow. But out of the chaos has emerged a beautiful new relationship between Ebury and MarketFinance.
MarketFinance is accredited to provide two different kinds of funding under the CBILS, giving you the flexibility to decide what’s best for your business. Opt for a hassle-free CBILS loan or choose a flexible CBILS revolving credit facility backed by your invoices.
No fuss, no fees, no interest
Whether you want a quick cash injection through a CBILS loan or you’re looking to unlock cash from your outstanding invoices, Ebury and MarketFinance have a solution that could help. On top of Ebury’s existing CBILS Trade Finance, with a CBILS loan you can get between £50,001 and £150,000 with no fees, interest or repayments for 12 months. Or, you can apply for a CBILS revolving credit facility of up to £5 million, which works in much the same way as invoice finance.
Happy business owner opening the door at a cafe wearing a facemask to avoid the spread of coronavirus â reopening after COVID-19 concepts
But time is of the essence. Businesses only have until 30 September 2020 to apply for CBILS funding.
📩 So get in touch with the Ebury team today to find out more information.
“We have been working with governments throughout Europe to try to ensure that SMEs, the lifeblood of our economies, have access to the working capital they need to survive the pandemic. I am delighted that by combining with one of our Fintech peers we will be able to help more companies in the UK secure the vital funding they need to be able to benefit from the economic recovery we are starting to see.”
Juan Lobato, cofounder and co-CEO of Ebury.
Here’s an example of how MarketFinance helped a manufacturing business with their revolving credit facility:
Company profile:
– INDUSTRY: Manufacturing
– BUSINESS: Distribute branded bar accessories to the drinks industry
– TURNOVER: £9m
– FACILITY SIZE: £2m
Their story:
Founded in 1970, this business is one of the UK’s leading suppliers of branded bar accessories, working with some of the world’s leading drinks brands including Heineken and Bacardi. They have suppliers in China who they have to pay upfront. But the products take 30 days to manufacture and 30 days to ship – then it’s another waiting game of 120 days to get paid by their clients. With our funding solution, the business can access the cash up front which allows them to buy more stock and take on more work.
They were declined for a loan by a major UK bank so began looking for other funding options. Working closely with our relationship managers, they were approved for a £2m CBILS revolving credit facility, immediately drawing down funds to support their growth plans.