Elavon selects Liberis to offer financing solutions for SMEs
By Joy Dumasia
Elavon has partnered with Liberis, a global leader in providing embedded finance solutions, to offer funding for Small-to-Medium-sized enterprises (SME) in the UK. Elavon’s SME customers will be able to apply for Liberis’ business cash advance for personalised and convenient financing based on their projected sales.
Funding decisions can be made in as little as 24 hours for £2500 to £300,000. The financing can be paid back flexibly at a pre-agreed pace and percentage of their monthly card transactions. This will allow fast-moving and nimble SMEs to grow and scale.
According to Elavon’s July 2021 research with Opayo, 72% of UK small businesses have seen a rise in overall revenue compared to just 46% in April 2021. Despite this progress, many SMEs have faced hurdles to secure the financing to grow. According to recent figures by the Federation of Small Businesses, as many as 76% of small businesses face rising operating costs such as utility bills and fuel costs which can be significant barriers to growth.
Rafal Golebiewski, Head of SME, Elavon Europe, said: “While most UK SMEs have seen their cash flow improve, many require financing to hire new staff, for refurbishment, purchasing new stock or investment to expand their business. Our business financing solution with Liberis is a fantastic added-value offering for customers that need it.”
Liberis CEO, Rob Straathof, said: “Our partnership with Elavon further strengthens our position in the global embedded business finance market. Our platform enables Elavon to integrate Finance as a Service into their ecosystem and offer Small Businesses access to fair and flexible revenue finance through a few clicks. Elavon has a large number of UK and Global SMEs who are looking for funding outside traditional bank loans, and we are well-positioned to support their growth and ambitions.”
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