By Oliver Smith on Monday 7 September 2020
A host of new partnerships highlight alternative and mainstream lenders for accountants.
Cashflow management fintech Fluidly is today adding a host of funding options to its software, helping accountants to access finance alongside forecasting and planning their cashflow.
Because of the cashflow data that Fluidly handles for its customers, businesses will find they pre-qualify for many of the funding options without having to fill out lots of forms.
“Funding is the natural extension of our app. Cashflow forecasting is a starting point that lifts the lid on what's going on in a businesses finances, and once accountants have that visibility, they need tools to help their clients take action,” said CEO and founder Caroline Plumb OBE.
Plumb said the decision to launch funding options was with an eye to the eventual closure of the government’s Coronavirus Business Interruption Loan Scheme (which is due to close at the end of September), VAT bills coming due, and other business support schemes winding down.
“During Covid-19 65 per cent of scenario plans created in Fluidly were about survival, but as the economy recovers businesses will look to invest in growth. This is where funding comes in. Fluidly provides accountants with everything they need to help clients secure the finance they need to grow again,” added Plumb.
For Fluidly the move is also another source of income, earning commission from loan origination, something its business and accountant customers will be increasingly dependent on as the recession bites.