MarketFinance is launching a furlough payment delay solution - Business Insider

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MarketFinance's solution is the latest in a long line of fintech initiatives to assist SMBs during the coronavirus pandemic

rolled out a coronavirus grant calculator for sole traders to help them calculate the grant they'll likely be eligible for through the Self-Employment Income Support Scheme .

The invoicing finance solution will likely boost MarketFinance's customer loyalty — we think the firm should also increase the existing furlough financing limit and work with the HMRC to offer the solution to small businesses in conjunction with the CJRS to increase brand recognition. MarketFinance's solution could provide a vital lifeline to SMBs fretting over imminent payday wages, increasing customer loyalty. Most businesses are due to pay their staff wages this Friday, yet they won't receive the HMRC funds until Monday at the earliest. This creates the risk of SMB employees either not receiving their wages, or the payments being delayed.

 

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