The average SME has £30k in outstanding delayed payments, meaning that easy access to finance is critical for small businesses. As the economy recovers it could allow them to take advantage of new opportunities to fuel growth as well as to help protect themselves against further unforeseen shocks.
Most small businesses who need financing only realise this late in the piece - and take action even later. The Clear Books/Capitalise partnership means that businesses have ongoing insight of their financial performance and their possible need for capital, and provides a streamlined process to find and apply for a business loan.
Clear Books makes it easy to keep the business’ books up to date, meaning the business is always “loan-ready.” Clear Books also provides business owners with insights when financing may be helpful or necessary. From within the accounting software, the business owner can share their business and financial information directly with Capitalise’s finance search platform, reducing the time it takes to gather the information and documents needed for a loan application. Capitalise’s team supports the small business to find the right financing for them, and get their financing approved.
Capitalise works with over 100 lenders, covering many financing options including popular working capital loans, and loans via the attractive government-backed COVID-19 Recovery Loan Scheme (RLS).
Because Clear Books users are loan-ready, it’s fast and easy to find the right loan, and even faster and easier to apply. Loans are approved faster, and the business owner avoids stress - all of which frees them up to spend their time on what matters most to them.
The integration is available now for eligible Clear Books users.
Ruth Fouracre, CEO at Clear Books said: “The Clear Books partnership with Capitalise is the latest addition to our suite of embedded finance applications. Building on bank feeds, invoice payments, and bill payments, the addition of loans and financing through the integration with Capitalise anchors Clear Books as the central finance hub for small businesses making it easier for small business owners to manage their business finances.“
Paul Surtees, CEO at Capitalise said: “Clear Books' suite of embedded finance applications is a great step forward in helping their users navigate the financial landscape. The rich financial data that Clear Books has really advances the speed and efficiency of Capitalise's funding service. This partnership will improve the quality of matching and reduce the time and stress of accessing finance for small businesses. We are excited to embed the Capitalise service into the Clear Books platform and help small business owners through this economic recovery.”
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Olly Cummings, Commercial Director, firstname.lastname@example.org, 0203 6969704