Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • How Generative AI is Giving SMEs a Marketing Edge
  • £20k grant for female-founded SME up for grabs
  • Deploying fintech solutions to boost climate resilience for African farmers
  • An Interview with Alexandra Palt: A sustainability leader and L’Oréal’s CSO
  • How Three Small Businesses Are Winning Big With ERP
  • As Seen on BBC Panorama – Brad Burton to Headline The South West Expo in Swindon
  • New Industrial Strategy must spark growth and opportunity for small businesses
  • Selling a business: The steps too many owners miss
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»Finance»MarketFinance acts to plug £20b cash flow gap from furlough payroll strain
MarketFinance unveiled Furlough Advance, based

MarketFinance acts to plug £20b cash flow gap from furlough payroll strain

0
Posted By sme-admin on April 30, 2020 Finance, News

MarketFinance unveiled Furlough Advance, based on its invoice finance service, offering an invoice cashflow solution to SMEs waiting for furlough funds from CJRS claims.

Despite HMRC’s CJRS claims portal opening last week, with the first claims being paid today (28 April), many SMEs are already in danger of collapsing before they get access to funding. UK SMEs are on the verge of paying out the second round of salaries to the eight million furloughed workers through the Coronavirus Job Retention Scheme (CJRS), and still, only the first few SMEs are on the verge of receiving funds.

MarketFinance

Fintech business lender MarketFinance has stepped in to help SMEs bridge the gap between paying furloughed staff and waiting for their CJRS claim to be paid by HMRC. Having delivered invoice finance solutions since 2011, MarketFinance has pivoted their tried and tested model to provide funding against HMRC payroll rebates. Where invoice finance has up until now seen businesses advanced money owed to them in outstanding invoices, MarketFinance will now offer the same cash flow solution to SMEs looking to advance funds owed in CJRS claims. Businesses will initially be able to apply for funding facilities up to £150,000.

Anil Stocker, CEO at MarketFinance, commented: “With April’s payday looming, it is essential that the HMRC application process is smooth and that payments are made as soon as possible. Any delay would exacerbate the cash crisis many companies are facing and could threaten jobs and the survival of these businesses.”

“We’ve been advancing cash to businesses since 2011 against invoices with long payment terms. We have perfected this model over the years and, now, have quickly adapted our model to meet the current needs of business. These vulnerable businesses, already very short on cash in the bank, will face yet another pressure by having to pay salaries for furloughed employees and then reclaim it days later.”

Contact MarketFinance: https://marketfinance.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

£20k grant for female-founded SME up for grabs

Deploying fintech solutions to boost climate resilience for African farmers

How Three Small Businesses Are Winning Big With ERP

Comments are closed.

Follow SME Today on Linkedin and share all the topics you find interesting
Get £100 of free trades - ii trading account

The Newsletter

Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

Sign Up
Events Calendar
    • Marketing
    July 4, 2025

    How Generative AI is Giving SMEs a Marketing Edge

    June 25, 2025

    From PLT to Twitter X: Business Branding Decisions That Backfired

    • Finance
    July 4, 2025

    £20k grant for female-founded SME up for grabs

    July 4, 2025

    Deploying fintech solutions to boost climate resilience for African farmers

    • Health & Safety
    July 1, 2025

    Temperatures Soaring: Is Your Workplace Becoming Unsafe?

    January 29, 2025

    UK takeaways guilty of shocking hygiene failures:

    • Events
    July 4, 2025

    £20k grant for female-founded SME up for grabs

    July 2, 2025

    As Seen on BBC Panorama – Brad Burton to Headline The South West Expo in Swindon

    • Community
    June 23, 2025

    Celebrating One Year In Fairford Supporting The Community

    June 2, 2025

    National Charity Accelerates Children’s Reading Through New Corporate Partnership

    • Food & Drink
    June 23, 2025

    England Cricket Captain, Ben Stokes OBE, takes a stake in Spencer Matthews’ alcohol-free spirits brand, CleanCo

    June 16, 2025

    Hospitality industry risks collapse

    • Books
    April 24, 2025

    Values-Driven Professionalism: A Path to Client Loyalty

    December 2, 2024

    Banish the banshee boss: how to lead without fear – addressing the issue of fear-based management and how NOT to be this manager

    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Most Recent Posts
    July 4, 2025

    How Generative AI is Giving SMEs a Marketing Edge

    July 4, 2025

    £20k grant for female-founded SME up for grabs

    July 4, 2025

    Deploying fintech solutions to boost climate resilience for African farmers

    July 3, 2025

    An Interview with Alexandra Palt: A sustainability leader and L’Oréal’s CSO

    July 3, 2025

    How Three Small Businesses Are Winning Big With ERP

    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health

    Copyright © 2020 SME Today.

    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.