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December 8, 2020

IFA and Funding Options to collaborate to help SMEs on the road to financial recovery

By Joe Pickard

The Institute of Financial Accountants (IFA) is collaborating with Funding Options, a marketplace for business finance, to give its members access to information and data to advise SME clients on available financial solutions.

Funding Options has recently launched its next-generation platform designed specifically for accountants, with the aim of enabling them to create an account and refer clients quickly and effortlessly. Accountants will be bale to track the status of clients’ application in real-time through a dedicated dashboard.

IFA CEO John Edwards said: “Supporting micro and small accountancy practices and business owners is the IFA’s sole focus. 2020 has been a challenging year for many organisations but we look ahead to 2021 with renewed optimism. Businesses and our practising members will need access to finance during this difficult period, whether it is to support growth, to pursue a business opportunity or to provide a short-term cash injection. Partnering with Funding Options will provide our members and their clients with on-going, valuable information and finance solutions to future proof their businesses.”

Funding Options chief revenue officer Stuart Lawson said: “Funding Options and the IFA are both focused on championing SME growth by addressing their financial concerns and fulfilling their needs. The collaboration between the two organisations is built on complementary skills and knowledge – accountants know SMEs and we know SME business finance.

“This year, a large proportion of the financial support SMEs have received is from the government-backed schemes. However as we look ahead to 2021, these schemes will eventually cease to exist and as economic recovery gathers pace, the role of the accountant will become even more critical. UK business owners will be leaning on their accountants a lot more to help them pursue the right finance options to help their businesses grow and succeed.”

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