Business finance marketplace Funding Options has launched Funding Cloud: Connect, an extension of its Funding Cloud platform which expands its offering for accountants and business advisors.
The advisory platform aims to “match SMEs with the best funding options on the market based on their eligibility and needs”.
It comes as at the beginning of the pandemic in early 2020, Funding Options saw an 80% increase in applications for Funding between February and March with demand remaining above pre-pandemic levels since.
With more small businesses wanting advice from accountants on how to improve their financial position, Funding Options has supported more than 150 accountancy firms in the UK such as Cooper Parry, Smith and Williamson and Begbies Traynor to “help clients pursue the right finance options in a highly fragmented lending market”.
With the new platform, Funding Options said “accountants can source finance between £1,000 and up to £15M from multiple lenders for clients quickly and efficiently”. Advisors will also be able to track the status of clients’ applications in real-time through a dedicated dashboard.
Simon Cureton, CEO of Funding Options, said: “The sector is shifting from compliance – handling tax, financial reporting and bookkeeping – towards a greater focus on business advisory by monitoring the health of clients’ businesses and advising on strategy.
“Typically, an accountant tasked with sourcing finance and collating the relevant paperwork for a SME can take weeks or months. Through FC: Connect, we are working directly with businesses and their trusted advisors to enable them to secure vital finance at speed, to help fulfil their strategic goals.”