"We now better service larger businesses with our corporate solutions team and have made fast progress towards offering a single-view across multiple live finance facilities."
MarketInvoice has updated its name to MarketFinance as it broadens its lending proposition for UK businesses.
The firm will now service larger businesses with both invoice finance and loans. This latest product development will allow business borrowers the freedom to choose from a variety of lending products – secured and unsecured – and access a single view of their finance facilities.
Under a new 'multi product' proposition, businesses will also be able to take both invoice finance and a loan concurrently.
Alongside the existing invoice finance proposition, business loans will be available up to £250,000 over three years, increasing to £500,000 in the coming months.
Larger businesses can access up to £5m in structured facilities combining invoice finance and a business loan.
Anil Stocker, CEO and Co-Founder at MarketFinance, commented: “Moving to our new name, MarketFinance, recognises the journey we have been on since 2011. It accurately reflects the wider lending choices we offer businesses today and those we will bring to the market in the future. Furthermore, this aligns with our company strategy to become a single source for all the finance needs required by ambitious business leaders.
“We have the leading invoice finance products in the market and our business loans are gaining traction with existing and new customers. Alongside this, we now better service larger businesses with our corporate solutions team and have made fast progress towards offering a single-view across multiple live finance facilities.
“The single-view will be a valuable resource to business owners in understanding their finance options. Effectively, they will be able to see how much finance they have at their disposal at any given time, in the most efficient combination possible. Central to these developments has been our industry-leading integrated credit risk platform which has been tested over the past 8 years and across many different sectors. We look forward to bringing further products to the business finance market in coming years."