multifi Expands Financial Support to Smaller Businesses
Expanded Credit Offerings for Smaller Businesses
multifi now provides smaller businesses with credit limits up to £40,000, competitive rates and quick access to funds within 72 hours. This expansion aims to support smaller enterprises by making financial support more accessible.
Tailored Eligibility Criteria for Smaller Businesses
The new criteria for smaller businesses include a minimum turnover of £50,000, at least 12 months of operation, positive cashflow, and a good credit history. This ensures that even newer and smaller businesses can benefit from multifi’s financial support.
Continued Support for Growth
For more established businesses, multifi offers credit limits of up to £250,000. This ensures financial support is available for businesses at all stages of growth, maintaining our commitment to helping businesses thrive.
How the new Criteria Work
Up to £40,000
For businesses under two years with under £250k annual turnoverLimits from £5k
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Monthly Platform Fee: 0.5% of credit limit
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Company Trading Period: Between 1 - 2 years
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Annual Turnover: Between £50k - £250k
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Negative Net Tangible Assets Considered
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CCJs: None outstanding
Up to £250,000
For businesses over two years with over £250k annual turnoverLimits from £5k
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Monthly Platform Fee: 0.3% of credit limit
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Company Trading Period: Over 2 years
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Annual Turnover: Over £250k
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Positive Net Tangible Assets Required
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CCJs: None outstanding
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 with a platform fee of 0.3% and an interest rate of 1.99%, ensuring that businesses at all stages of growth can access the financial support they need.
“At multifi, we are dedicated to breaking down financial barriers for all businesses. Since we began our journey in 2023, we have gained insight into the number of small, growing businesses that found it difficult to access funding. Providing access is key to empowering Britain’s entrepreneurial community. Launching working capital credit limits for these businesses will drive much-needed growth and innovation. Our expanded credit offerings reflect our commitment to providing flexible and accessible financial solutions. By supporting smaller enterprises with tailored credit options, we empower them to thrive and grow. “
Rob Keown-Boyd, CEO.
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.
multifi is more than a financial service provider; we are a partner in your business’s success. With our new credit limit, we look forward to seeing our clients reach new heights and achieve their business goals. Stay tuned as we roll out new initiatives and enhancements to our services.
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Fast access to business finance in a user-friendly platform with fixed, competitive interest rates.
