Enhancing Business Cashflow with multifi’s SME Payment Solutions
In today’s dynamic business landscape, maintaining healthy cashflow and ensuring timely supplier payments are paramount for SMEs seeking sustainable growth. Introducing multifi’s innovative SME Payment Solutions – a comprehensive suite of tools designed to simplify these critical processes and drive business efficiency.
Challenges in Cashflow Management and Supplier Payments
In the competitive business arena, SMEs often grapple with significant challenges in managing cashflow effectively and promptly paying suppliers. Delays in payments strain supplier relationships and hinder business expansion opportunities. multifi’s Payment Solutions alleviates these pain points, offering a seamless approach to supplier payment automation and cashflow optimisation.
The Competitive Landscape
multifi’s Payment Solutions stand out amidst similar offerings in the market, boasting unparalleled features and benefits tailored to SMEs’ unique needs. With user-friendly interfaces and robust automation capabilities, multifi provides a distinct advantage, enabling businesses to streamline operations and drive growth efficiently.
The Role of multifi’s Payment Solutions
multifi’s Payment Solutions transform cashflow management and supplier payments, offering real-time visibility. Businesses can use credit to pay their suppliers directly from the multifi platform ensuring invoices are paid on time and cashflow remains strong.
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Benefits vs. Features Distinction
multifi’s Payment Solutions offers advanced functionalities and delivers quantifiable results, empowering businesses to optimise cashflow and drive sustainable growth. Once businesses have been approved and signed up to the multifi platform, they no longer have to apply whenever they want to borrow money to send money to suppliers and payees. Through the multifi platform, they can simply send payments from their credit account, having already been through the eligibility process when initially accessing their credit limit.
Enhancing Cashflow Management
With multifi’s Payment Solutions, businesses gain unprecedented control over cashflow, enabling informed decision-making and proactive financial management. The multifi platform allows users to see all of their transactions at a glance and understand exactly how much credit is available to use to boost cashflow as they need it.
Facilitating Supplier Payments
multifi’s Payment Solutions revolutionizes supplier payments, streamlining processes and ensuring timely transactions. Leveraging automation and Open Banking integration capabilities, multifi empowers businesses to enhance efficiency and maintain strong supplier relationships, ultimately fostering long-term growth and prosperity.
Download our latest report: The future of cashflow
Download our insight report, “The Fight Against Slow Finance: How Pre-Approved Credit is the Secret Weapon for UK Businesses,” to dive deeper into the challenges UK businesses face and discover how multifi is revolutionising the world of business finance.
Our report includes:
- Identification of financial gaps and the impact on SMBs.
- Strategies for managing cashflow effectively.
- The benefits of pre-approved business credit.
- Real-world case studies and success stories
Frequently Asked Questions About multifi:
Who is multifi for?
multifi is a fast, flexible source of business finance for all UK companies. We support everything from retailers and restaurants to manufacturers and professional service firms. Businesses use multifi to bridge short-term cashflow gaps, invest in new opportunities, and more.
How much can I borrow?
We will approve your business for up to £200,000. Your credit limit is based on factors like revenues and cashflow.
Are there any commitments?
It’s free to apply without obligation. If approved, you only proceed once you’ve reviewed your offer. We may, in some cases require a personal guarantee.
Do you charge fees?
We believe in transparency. There is no sign-up fee. The only costs are a monthly fee of 0.3% of your credit limit, and a 1.99% interest on used credit per 30 days. There are no hidden fees and no charges for early repayment.
How do I make repayments?
To make a repayment, simply ensure you have sufficient funds in your Business account when repayments are due for both your monthly platform fee (0.3% of your credit allowance) and interest fee (1.99% of used credit). If you are making a capital repayment, simply make a payment from your Credit account, ensuring there are sufficient funds in your Business account.
What if I miss payments?
Contact your advisor immediately if you anticipate difficulty with repayments. We’ll try to assist you in getting back on track. Missed payments may impact future eligibility.
What kind of businesses are eligible for credit limits?
Our customers are typically businesses looking to generate cashflow and grow.
Minimum criteria include:
- The business is a limited company and must be registered at Companies House.
- The business has traded for at least two years.
- The business should have a positive Net Tangible Asset position.
- The business and its directors must have no outstanding County Court Judgements (CCJs).
- The business must not trade in a prohibitive industry.
Full eligibility criteria can be found on our support page.
The Future of Payments
Looking ahead, multifi remains committed to innovation and staying ahead of emerging trends in the payment landscape. We are committed to enhancing the future of supplier payment solutions, enabling continued success for SMEs worldwide.
multifi’s SME Payment Solutions offer a transformative approach to cashflow management and supplier payments, empowering SMEs to thrive in today’s competitive business environment. For examples of how businesses can benefit from multifi read our case studies and instantly check your eligibility for a business credit limit here.
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