Liquid Finance Receives Line of Credit From Shawbrook
Liquid Finance Partnership Ltd (LFPL), a leader in the Merchant Cash Advance sector of the fast growing Alternative Funding market, today announced the establishment of a line of credit with Shawbrook Asset Finance, a division of Shawbrook Bank.
The move will enable LFPL to significantly increase its ability to fund the growth of more small businesses across the UK through its Merchant Cash Advance product.
"Small businesses are integral to the future prosperity of the UK economy and it is vital that these businesses have access to the necessary funding they need in order to grow and prosper. We are pleased to extend a line of credit with Liquid Finance Partnership Limited, which has a simple, flexible product that provides working capital that can be used for any purpose that helps a small business grow," said Paul Tagg, Director at Shawbrook Asset Finance.
"We are delighted to be working with Shawbrook. Its support will enable us to fund even more UK businesses thereby helping them to grow. We are seeing more and more demand for cash advances as these businesses recognise the growth capital advantages of our product," said Richard Morley, Director of European Development at Liquid Finance.
LFPL provides unsecured cash advances to businesses that take credit and debit cards through its Merchant Cash Advance product. It applies a factor rate "fee" to the advance and purchases an agreed daily percentage of the business's future card receivables until the advance plus fee is paid. Funding is provided within as little as 5 working days - from application to cash in the bank. Uniquely, via an FCA regulated sister company, Liquid Finance is able to automate daily batch settlements, thus avoiding having to change card processor, entering into a lock box or another form of repayment.