In the City: Even a Reversal May Not Bring the Ultra-Rich Back
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Yahoo
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Study develops new methodology to estimate energy consumption of digital services
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Bloomberg
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Why UK Tax Hikes Loom as Reeves Looks to Plug Fiscal Black Hole
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iwoca and Teya team up to enhance loan accessibility for UK SMEs
UK business lender iwoca has joined forces with Teya, a financial services platform for small businesses, to facilitate its Flexi-Loan product to business owners through Teya's digital offerings. With the integration of iwoca's lending service, users can now submit loan applications directly through Teya's app and web portal. The loan amounts range from £1,000 to £1m, with repayment terms spanning from one day to up to 60 months. According to the company press release, the application process for these loans is entirely paperless, and customers will not be charged for repaying their loans ahead of the agreed schedule. The alliance is said to be significant, as projections from the SME Expert Index suggest an upward trend in the demand for financial services by SMEs, with 76% of finance brokers anticipating an increase in the coming period. Teya product director Siddhartha Ram said: 'This partnership is another step in our journey to build truly useful financial services for small businesses. 'Whether it's payments, accounts or funding - our aim is to give business owners the tools they need to thrive, with none of the complexity.' iwoca chief commercial officer Colin Goldstein stated: 'Teya shares our belief that small businesses should have quick and uncomplicated access to the finance they need to grow. Working together, we can reach even more business owners and ensure that capital is available when and where it's needed most.' This announcement follows the recent research conducted by iwoca, which indicated a growing inclination among finance brokers to recommend non-traditional lenders over conventional banks. A key factor influencing this trend is the desire for more rapid decision-making in the loan approval process, as cited by 73% of brokers. "iwoca and Teya team up to enhance loan accessibility for UK SMEs" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
