Amex brings SME financing to UK with ezbob
American Express (Amex) has partnered with online financing platform ezbob to offer UK SMEs competitive access to finance.
ezbob partners with Amex for SME financing
Through this partnership, eligible Amex business clients will receive a referral to apply for up to £300,000 in finance from ezbob at a fixed annual interest rate from 3%.
Carlos Carriedo, senior vice-president of global commercial services at Amex, says: “We know agility is crucial for smaller businesses to help retain a competitive advantage but accessing the finance needed to react swiftly to changing customer demands, or seize an opportunity, can be a challenge.”
Amex customers taking out a loan with ezbob will also benefit from a 40,000 Membership Reward points offer, the company adds.
Ezbob will enable eligible Amex UK-based SME business customers to access quick and paper-free credit. The firm says companies can apply for a loan in ten minutes – and, if successful – receive funds on the same day.
Carriedo continues: “We’re committed to helping UK businesses to ensure they can capture growth opportunities – whether that’s investing in headcount, optimising seasonality, refurbing premises or simply funding a large order.”
Amex and Oxford Economics recently conducted a global study of senior executives of 3,000 SMEs, which revealed that while UK SMEs remain confident, a significant number (24%) struggle to access finance to help grow and support their business.
The research highlighted that hidden fees, a lack of flexible repayment options and lengthy application processes are among the greatest challenges for small businesses looking to access finance or capital.
