Accelerated Payments and Funding Friends Team Up to Boost UK SMEs

Published 6 months ago

Global Invoice Finance provider, Accelerated Payments, is set to expand its working capital solutions for UK SMEs and larger corporations. This expansion is due to a strategic partnership with UK funding expert, Funding Friends.

Uniting to Facilitate Business Growth

This collaboration stems from previous professional alliances between Accelerated Payments’ Head of UK, Lee Baty, Sales Director Siobhan Jones, and Funding Friends. With the extensive referral network of Funding Friends, Accelerated Payments can now ensure that businesses have easy access to required funds via its innovative invoice finance solutions.

Addressing the Challenges Faced by Businesses

Timely access to working capital has become increasingly crucial for fast-growing SMEs and corporations. This need has grown due to high inflation, rising interest rates, and cost-of-living crisis, which all pose significant challenges to businesses. Additionally, new Brexit rules have added potential obstacles for businesses looking to export to new markets.

Business owners, big and small, have found recent years exceptionally difficult. The number of small businesses in the UK alone has declined by 6.6%, from 5.9 million in 2020 to 5.5 million in 2021.

A Partnership Focused on Customized Solutions

Lee Baty highlighted that the partnership with Funding Friends signifies the expansion of their Referral Partner network. This network now includes Brokers, Banks, Financial and Debt Advisory Firms, all focusing on creating an environment conducive to international growth for UK businesses. Accelerated Payments offers flexible working capital solutions, with funding lines ranging from €0.5-€10m on a non-recourse basis.

Damian McGann, Executive Chair at Funding Friends, expressed excitement about the partnership, stating that both firms share a robust approach to helping businesses grow globally.

Accelerated Payments: A Track Record of Support

Since its inception, Accelerated Payments has financed over 120,000 invoices. This financing amounts to 1.5 billion euros provided to 450 clients and 1,800 debtors across 45 countries. By doing so, Accelerated Payments has supported businesses from a wide range of sectors, helping them to accelerate growth and expand into international markets.