Bill finance company launches Covid-19 package – London Business News

Britain’s leading invoice finance company Optimum Finance has launched a support program for UK SMEs affected by the coronavirus.

The range of measurements has been designed to be easily accessible via remote online applications via a specially designed web application.

The application process only takes 90 seconds to enter basic business information, the web application then indicates the level of immediate funding available. The Optimum team also created an online calculator that shows how business costs can be saved by using invoice financing to give business owners a clear picture of how they can change their financial situation during the pandemic.

Optimum Finance will finance all new customers directly affected by the crisis at cost price with a discount commission of 2.75% compared to the base rate. Business owners accepting the package will be covered by enhanced protection against debtors in the event of default or late payment, and credit management will be handled by the Optimum team.

The company promises that it can improve the cash flow and financial prospects of businesses needing help with a four-month guarantee of success, or it will reimburse its service charges.

In addition to financial support, Optimum Finance has created a roster of business advisors and trade finance experts who focus on generating successful applications for the government’s CBILS program. Coming widely criticized for the low success rate and complex application process, the loan program proved to be complex and difficult to navigate.

Commenting on the package, Optimum Finance CEO Richard Pepler said, “There is no one-size-fits-all solution to the difficult situation many businesses find themselves in. There are no quick fixes and that is why we are focused on supporting SMEs with a range of measures which, when combined, will give them the best chance of long term survival.

“Small and medium-sized businesses are the lifeblood of the UK economy and without them we will be in a very difficult situation in the future. We advise business owners to take advantage of the measures available, including access to CBILS, dismissal of staff, cost reduction where possible, deferral of HMRC payments, and use of funding from employees. invoices to release cash owed to them from invoices. This approach is proving to reassure the companies we have worked with in recent weeks, allowing them to focus on planning for the future. “

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