Bristol-based invoice finance firm Optimum Finance has launched its industry’s first app aimed at accountants to empower them to gain almost immediate funding approval for their small business clients.
The mobile and desktop app asks referrers eight simple questions based on the financial position of the business, including its turnover, age, company registration number and number of customers. 
There is then a live approval based on the information entered by the accountant with an instant decision and, where approved, a funding deal offered to the business.
Optimum Finance, which provides tailored funding solutions for SMEs to enable them to release cash tied up in client and customer invoices, said the idea behind the app was to remove the often lengthy and complex application processes that are associated with commercial finance funding.
With less bureaucracy, owner-managers can continue to focus on the day-to-day running of the business without the distraction of securing external finance.
Each application takes less than five minutes and an answer provided in minutes based on the criteria supplied.
Accountants can complete as many applications as they want, with one for each client.
Optimum Finance CEO Richard Pepler, pictured, said: “Poor cashflow is the main reason for pressure on business owners and managers in the UK.
“Larger companies can often insist on lengthy payment terms or fail to pay on invoice due dates and this puts pressure on companies, which still have to pay staff and their own suppliers.
“A healthy and crucially, reliable, cashflow not only means business owners can plan ahead it also enables capital investment strategies to become reality which in turn results in business growth.”
Optimum Finance offers a range of flexible funding solutions which grow alongside clients’ businesses. Products include invoice discounting and factoring as well as a dedicated credit control team if clients prefer to also outsource this element of their financial management.
Optimum Finance was set up last year by Richard Pepler, the former chief executive and co-founder of Bristol-based factoring group Ultimate Finance.
To gain access to the app accountants should contact the Optimum Finance team for a personal login.
