Liberis, a leading fintech providing embedded business finance through its innovative platform, has joined forces with Epos Now to help UK SMEs apply for up to £300,000 worth of financial support.
At a time when small business owners and operators are finding it harder to access the finance they need, Epos Now Capital promises to be a “game-changing solution” for financial support.
As the UK’s fastest-growing point-of-sale specialist, this new venture now allows Epos Now to deliver financial support as part of its client offering. It’s being made possible through Liberis’ Funding Platform – the white-label solution that aims to provide easy to access funding for SMEs in a variety of key sectors and for a range of business purposes.
In addition to the impact of Covid-19, the prospect of a no-deal Brexit highlights an increasing need to support SMEs and make business finance more inclusive moving forward. As the backbone of the economy, Epos Now Capital recognises and acts to tackle these challenges head-on – providing a range of business owners with much greater confidence in being able to secure finance in as little as 48 hours if required.
Liberis CEO Rob Straathof says: “Liberis is passionate about changing the world of business finance for good. Since 2007, we’ve helped thousands of businesses to secure the funding they need to compete in today’s hypercompetitive environment.  Our partnership with Epos Now is another step in our ongoing strategic plan of supporting SMEs with much needed funding. We look forward to building on the nearly £500 million in funding we’ve provided globally to over 16,000 businesses.”
How will Epos Now Capital work?
This new partnership will benefit the many SME clients of Epos Now who can move beyond the traditional, yet restrictive, forms of lending and access alternative forms finance with a faster and simpler approval process based on business performance. Business owners can take advantage of a Business Cash Advance with flexible payments. Monthly payments are based on business card turnover, allowing businesses to make payments in line with their own business performance.
Epos Now Capital provides a flexible, revenue-based funding solution that works in tandem with how much a business takes in a month.
There’s no need to produce a business plan in order to apply for funding from Epos Now Capital either. The cash advance can be used for a range of business purposes – it can be used for refurbishing premises, purchasing stock or to simply manage cash-flow. At a time when things don’t seem all that certain, Epos Now Capital offers freedom, peace of mind and valuable financial assistance.
Who can apply for Epos Now Capital?
Epos Now Capital is accessible to a wide range of SMEs – from restaurants and pubs to hotels, retailers and more. To be eligible, applicants must first have been taking at least £2,500 per month in card and digital payments through an eligible acquirer for at least 4 months. Once approved, the funds could be made available in as little as 48 hours.
Straathof adds: “COVID-19, the upcoming end of the furlough scheme and the thought of a no-deal Brexit is a worrying combination of factors for SMEs. Through our partnership with Epos Now, we can help business owners to overcome these challenges. To start, it means providing those businesses with quick, seamless access to flexible financing.”
Epos Now’s Chief Growth Officer, Barbara Staruk, said: “Epos Now has a longstanding track record of supporting SMEs with the latest cloud POS technology. Using data analytics we are well-positioned to offer a more accurate funding picture based on our customers trading history and business performance rather than just an arbitrary credit report. The COVID-19 pandemic has reinforced the reality that thousands of businesses are struggling to gain access to much-needed working capital to meet the demands of a new type of customer and that’s precisely why we’ve worked hard to develop a solution capable of providing small businesses with rapid, no-strings access to financing”.