NatWest has added invoice finance platform MarketInvoice to its Capital Connections panel, which helps SMEs unable to borrow from banks get access to alternative sources of money.
The Capital Connections panel guides small businesses that are struggling to get money from traditional sources to nine approved providers in areas such as equity crowdfunding, marketplace lending and, now, invoice financing.
Launched in 2011, MarketInvoice has provided business finance solutions to thousands of businesses across the UK, with over 90,000 invoices funded to 93 countries. In 2017, the firm almost doubled the average amount advanced to UK businesses – from £606,000 in 2016 to £1.14 million. It is the first invoice finance lender to join the NatWest panel.
Alison Rose, CEO, commercial and private banking, NatWest, says: “As the biggest supporter of British business, we understand that traditional funding routes are not always the best option for fast growing start-ups. Through Capital Connections we’re able to signpost a broad choice of funding options through its impressive range of alternative lenders.”