16 September 2021 – Advantedge Commercial Finance has hit a funding milestone providing over £100m of funding to UK businesses to support their plans. The firm achieved the milestone in July and have continued their growth with funding levels now at £110m.
The achievement comes on the back of what has been a challenging 18 months for businesses as they sought to navigate the impact of the pandemic. Advantedge remained committed to UK businesses throughout this time by ensuring they remained accessible to clients and their financial advisors providing funding facilities to businesses seeking financial support. In the first six months of 2021, the firm are proud to have delivered a 28% increase in the number of new client facilities over the same period in 2020 and a 2% increase on 2019 levels.
With confidence increasing amongst UK businesses, Advantedge are continuing to see a high level of demand for invoice finance facilities and are forecasting a year end growth of 6% in new client facilities over 2019 levels putting them ahead of where they were pre pandemic.
Advantedge were recently acquired by US based eCapital Corp, a leading North American provider of speciality lending solutions. With the added funding and security that eCapital delivers it provides the strength from which to continue their growth plans to support UK businesses with their recovery plans.
The business attributes its continuing growth to its a strategic plan which focuses on continuing to expand their national coverage through regional client centres ensuring a personal and localised service. With regional decision makers, clients and their advisors can expect a fast response and the flexibility to deliver empathetic solutions that meets their clients’ funding needs.
As David Tilling, CEO of Advantedge says: “It’s a real milestone for the team, who are passionate about being there to support our clients. We truly understand our clients and their customers, and we all go the extra mile to ensure we do what we can to provide the availability of funding required to support our clients’ as they deal with the challenges and demands of doing business. It’s a recognition of our visibility during the last 18 months, making ourselves available to businesses to discuss funding options. Despite the Government support measures, we’ve seen a continuing upward trend in business since the end of Q2 2020 demonstrating the resilience of UK Business as they have fought to keep their businesses trading”.
Advantedge, offer a full range of invoice finance facilities to small and medium sized businesses delivering fast and flexible finance solutions to clients on their own terms so they can capitalise on opportunities as they arise. With funding facilities available up to £2m, the firm is looking forward to playing a part in the UK’s ongoing recovery.
David concludes, “We need to encourage SMEs to invest in their growth as they recover from the last 18 months. Ensuring that they can access fast, flexible, and easy funding solutions will increase their confidence in an uncertain economy. Advantedge are committed to supporting these businesses and are looking forward to continuing to make a difference to UK businesses.”
Since 2006, eCapital has been on a mission to change the way small to medium sized businesses access the funding they need to reach their goals. We know that to survive and thrive, businesses need financial flexibility to quickly respond to challenges and take advantage of opportunities, all in real time. Companies today need innovation guided by experience to unlock the potential of their assets to give better, faster access to the capital they require.
We’ve answered the call and have built a team of over 600 experts in asset evaluation, batch processing, customer support and fintech solutions. Together, we have created a funding model that features rapid approvals and processing, 24/7 access to funds and the freedom to use the money wherever and whenever it’s needed. This is the future of business funding, and it’s available today, at eCapital.