FSB members can access business loans, leasing, invoice or trade finance from over 80 banks and alternative lenders by preparing a single finance application.
The Finpoint business finance platform supports small and medium sized businesses to secure the funding they need to grow.
It helps businesses to navigate a complex funding market to find the right lender for them.
Click here for the Finpoint finance platform
The Finpoint platform allows the business to prepare one funding application that can be shared anonymously with over 80 lenders including banks, specialist finance houses and alternative finance providers.
The service is provided at no cost to the business and covers a variety of financial products including:
Business loan - a flexible way to fund growth projects while keeping the cost of finance predictable
Leasing or hire purchase - subject to the tax position of your business, it may be more cost effective to lease equipment rather than to purchase it outright
Invoice finance - improve the cash flow of your business without jeopardising client relationships
Trade finance - ideal for businesses that import or export goods and require finance to grow – or any form of supply chain finance
Step 1 – Upload your details: Applicants register via the Finpoint platform and use the system to prepare a finance application. Once all the relevant information has been provided, an anonymised summary will allow over 70 potential funders to decide if they are interested in lending to the applicant.
Step 2 – Completeness review: Prior to releasing anonymised information to potential lenders, the information applicants provide will be sent to PwC who will contact applicants to give feedback on the completeness of the information that has been uploaded. Finance applications are more likely to succeed if applicants can provide clear and concise supporting information.
Step 3 – Interested lenders notification: Once applicants are satisfied that their finance application is complete, an anonymised summary will be submitted to potential lenders. The lenders can then express an interest in the application and the applicant will be alerted about the lenders that are interested in lending to them.
Step 4 – Applicants progress: Applicants decide which of the interested lender(s) they wish to continue a full discussion and application with. The Finpoint platform will only then release the business’ full information to the chosen lender(s). Final discussions and agreement of funding is conducted directly between the applicant and the potential funder(s).
There is support available throughout an applicant’s use of the Finpoint platform, to help use and get the most out of the system.
Any business can use the Finpoint platform to apply for funding.