Fleximize has just launched what it calls an ‘innovative and flexible source of funding’ which it is calling Revenue Advance. This offers repayment schedules for clients based on their revenue flow, which means it more closely fits their growth path.
The launch follows hot on the heels of criticism from MPs on the Public Accounts Committee that small and medium sized businesses in the UK are still struggling to access funding despite the Government trying to help through its Funding for Lending scheme.
Under the scheme, banks and building societies were able to borrow money cheaply from the Bank of England provided that they then loaned the money to businesses. However, latest figures from the Department of Business, Innovation and Skills, showed that net lending by banks had fallen by £2.3bn since June 2012.
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