multifi Expands Financial Support to Smaller Businesses

multifi, a leading provider of innovative financial solutions for small and medium-sized businesses (SMBs), is proud to announce the expansion of its credit offerings to include smaller credit limits tailored to the needs of smaller businesses. This initiative is designed to provide these businesses with easier access to credit, supporting their growth and financial stability while continuing to offer higher limits for more established companies.

Meeting the Needs of All Businesses

Recognising smaller businesses’ unique challenges, multifi has introduced new credit options with specific eligibility criteria. This latest offering is set to empower smaller enterprises by providing:

• Accessible Credit: Credit limits of up to £40,000, enabling smaller businesses to manage cashflow and seize growth opportunities.
• Competitive Rates: A platform fee of 0.5% and an interest rate of 2.49% on used funds, providing a cost-effective financing option.
• Quick Access: The onboarding and loan approval process is fast, with funds available within 72 hours, significantly quicker than traditional methods.

For more established businesses, multifi continues to offer credit limits of up to £250,000, ensuring that businesses at all stages of growth can access the financial support they need.

Eligibility Criteria for Smaller Businesses

The new credit options come with distinct eligibility criteria to ensure we effectively serve smaller businesses:

Smaller Businesses:

• Annual revenue: Minimum turnover £50,000
• Operating for at least 12 months
• Demonstrate positive cashflow
• Good credit history

More Established Businesses:

• Annual revenue: Over £250,000
• Operating for at least one year
• Demonstrate financial solid performance
• Excellent credit history

Robert Keown-Boyd, CEO of multifi, commented, “At multifi, our mission is to simplify finance for all businesses, regardless of size. Our new credit offerings are designed to provide smaller enterprises with the financial flexibility they need to thrive in a competitive market while continuing to support more established businesses. We believe this initiative will make a significant difference in supporting the growth and success of these businesses.”

Tailored Financial Solutions for Every Business

multifi’s expanded credit offerings underscore its commitment to providing flexible and accessible financial solutions tailored to the needs of all businesses. These new credit options complement multifi’s existing range of financial products, ensuring that businesses of all sizes can benefit from its innovative services.