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  • Chris Bratton - Tech Journalist

MarketFinance going support mode for SMBs with $383 million loans in the UK

Small and medium businesses (SMBs) are going through a difficult phase in pandemic times. One of the biggest reasons is cash flow optimisation, which doesn’t seem to go well when integrated business or market is not working according to plan. To help these small and medium enterprises (SME’s) or SMB’s, MarketFinance came as a rescuer, who recently scored $383 million to fuel SMB platforms.

Due to cash flow issues, many businesses are at their breaking point and what’s even worse is that, due to similar problems, they are not getting proper help from financial sources. For this reason and to make a profit along the way, MarketFinance came to the rescue. Their motive of “helping small businesses recover with frictionless finance” seems to make an immense title around the market as many companies are interested in leaping to them.

The Coronavirus Business Interruption Loan Scheme (CBILS) was a government scheme that helped many SMEs in the UK. But then, with the help of MarketFinance came to British Business Bank’s Recovery Loan Scheme for the post-pandemic situation to drive the business forward.

With MarketFinance RLS loans, SMBs could get between £50,000 and £250,000, repayable over four to six years. However, the company itself has an evaluation in the $500 million marks or less but more than $250 million nevertheless. Although the company never disclosed exact numbers officially, we can find that out via public listings and business information. CEO and Co-founder Stocker said, “We are building a sustainable business, and the equity we did raise was to unlock better debt at better prices”, along with “it can help to post more equity on the balance sheet.”

MarketFinance initially started as MarketInvoice a few years back, but as its business model focuses on short-term loans for smaller companies, they never had to look back. Because there are always companies that need help, and with the pandemic, there are not enough resources to help as many companies as they want.

Then again, the funding needed to be used in a situation that will benefit both parties taking the loan and the source. It would not be wise to give out to every company that asks for help because they need to sustain and understand how payback will work. So, with the pandemic, SMB’s need help, and luckily MarketFinance now have the option to choose whom they want to help among the applicants.

SMB’s taking loans from MarketFinance will pay a fixed agreement fee of 4%, and the interest starts at 7.6% with no early repayment. Which overall makes taking a loan affordable and efficient for a business that wants to make their foot stable.

The UK registered, and trading business that is affected by the Covid falls under the loan design. Companies need to go through fraud, credit checks, and complete eligibility criteria to become perfect applicants. Criteria also include annual turnover of £100,000 or above with three years of minimum trading practice proved profitable. At least one owner or primary shareholder must reside in the UK, and it can also be the company’s director.

A company insider said the requests for loans are through the roof and exceeds $500 million, which falls short according to the demands. Though many startups request money from MarketFinance, the company only “choose to support those” who they think will “return the money.”

MarketFinance launched Flex loan to help SME’s nevertheless, which has a flexible facility to solve cashflow issues. SME’s delivering multi-product will come as a priority because they have the potential to return money faster. As a result, they can go forward and offer another SMB’s helping hand with profit in pocket.


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