Let accountants handle financing requests on behalf of their clients.
Image source: Simon Cureton/Funding Options.
After diversifying its business with energy shift and international payments for SMEs in 2021, Funding Options is now exploring different avenues to market with a new funding platform specifically aimed at accountants and advisors.
Called Funding Cloud: Connect, the offering is an extension of the Lending Marketplace’s existing Funding Cloud platform that allows lenders to integrate their products into funding options, resulting in more streamlined applications and faster decisions.
Connect extends this from just business owners, to enable accountants and advisors to install their clients on the platform and facilitate their loan applications.
“Typically, an accountant tasked with seeking funding and compiling relevant documents for an SME can take weeks or months,” said Simon Cureton, CEO of Funding Options.
“Through FC:Connect, we work directly with companies and their trusted advisors to enable them to access vital funding quickly, to help them achieve their strategic goals.”
In Funding Options’ experience, an SME is 10 times more likely to be approved when applying through its integrated Funding Cloud lending platform: log in through its accountant.
The market claims to have set several internal records through Funding Cloud, including a loan request to approval record of 20 seconds and a banked funds request record of 18 minutes.
Funding Options has worked directly with over 150 UK accountancy firms, including Cooper Parry and Smith & Williamson, to create Funding Cloud: Connect.
“It’s a privilege to have early access to test a product that empowers accountants to strengthen their position as trusted advisors,” said Nick Levine, Chartered Accountant and Financial Technology Specialist.
“Rather than waiting weeks for approval, Funding CloudTM’s technology infrastructure takes the headache out of accountants and gives them access to instant approvals for clients, so their focus can be on the strategic orientation to develop the activity of their SME client.”