Leading UK invoice finance firm Optimum Finance has announced a new funding line increase to £16 million as it strives to provide small and medium businesses with access to immediate funds to enable a long-term healthy cash flow position.
The business has also unveiled that it will be able to provide larger SMEs with amplified support. The maximum facility now available to individual businesses has been increased by 33% to £1.2 million per business.
The announcement comes as Optimum Finance continues to work on the financial frontline of funding provision for SMEs with many having been adversely affected by the coronavirus crisis.
Optimum Finance has become the first and only invoice finance firm in the UK to offer a complete digital application process. It has invested heavily in the development of a new web app which automates many previously manual tasks in applying for funding. Firms can receive an instant offer by applying through a customised digital dashboard with funding accessible within days.
Through a combination of services including invoice finance, debtor protection and credit management, Optimum Finance has a proven track record in providing financial stability to its clients.
Commenting on the additional funding, CEO of Optimum Finance, Richard Pepler said: “This extension in our funding line means we can offer a vital financial lifeline to businesses who desperately need help now and in the coming months.
“With payments from customers and clients taking longer due to the slowdown in the economy having a healthy cash flow now could mean the difference between commercial survival and failure.
“Our business model is focused on providing practical and immediate help to SMEs we’re delighted that we will be able to help more firms in the coming weeks and months ahead.”