Liberis provides a breath of fresh air for SME funding

-- Company launches nationwide search for Britain's Friendliest Business

-- Liberis cements its place as Britain's most business-friendly funding provider

-- Liberis provides SMEs with alternative funding option via the Business Cash Advance

-- To celebrate launch, Liberis kicks off nationwide search for "Britain's Friendliest Business"

LONDON, Oct. 25, 2013 /PRNewswire/ -- Today, Liberis – one of Britain's largest providers of alternative finance for small to medium businesses– officially announced its new identity, developed to support its mission to bring a breath of fresh air to SME finance. Liberis is celebrating its launch by kicking off a national search for "Britain's Friendliest Business."  

Liberis was born of the idea that SMEs were not finding the funding answers they needed in the existing marketplace. Traditional banking and loan models didn't provide the flexible, simple help that most SMEs need to succeed, and, more importantly, the funding simply wasn't available. Latest figures suggest that the scale of the SME funding gap in the UK is huge, with estimates from £29bn to £59bn.

In looking to bridge that gap, Liberis was the first company in the UK to offer a Business Cash Advance – a funding product that provides SMEs with short term, unsecured finance, which is then repaid via a pre-agreed set percentage of the business's future sales. A simple cost of finance is agreed upfront based on a factoring model, and repayment is automatically diverted to Liberis at the point of purchase until the full payback amount is reached.  There is just one, clear cost for the funding, and the amount to repay never changes. There is no such thing as a late payment, and the funding does not require a business owner to take time away from running his or her business to draw up complicated, lengthy business plans.

Adrian Fawcett, the Chairman of Liberis, spoke of his excitement surrounding the company's new launch: "We are in a critical moment for SMEs in Britain. Our high streets are disappearing, and our local businesses are facing impossible financial conditions. At Liberis, we want to make sure that the tills of Britain keep ticking, and we think the best way to do that is by ensuring those businesses have the right access to finance – something where the payments being made actually go down if business is tough.

"Small business owners don't have the free time to draw up complex business plans and meet other stringent requirements often put in place by traditional lenders, but that doesn't mean they don't need the financial support. The investors in Liberis, including myself, have been involved with over 2,000 small businesses across all industries in the UK in the past twenty years. We know what these businesses need to succeed, and we believe that Liberis provides it."

Paul Mildenstein, CEO of Liberis, echoed Fawcett's comments.

"The simplicity and transparency of the Liberis model is our real strength – one cost, agreed at the outset, with no time limit on repayment. We also trust our customers to make the right decisions for their businesses.

"In many cases, businesses turn to Liberis to help them cover costs like new equipment and stock, business inventory, repairs or refurbishments to improve their shops or hotels. We don't judge how our customers want to spend their money; we just want them to be able to find funding when they need it. And most importantly, we only get paid when they get paid."

To celebrate British businesses with a loyal customer base, Liberis is also launching a nationwide search for the Britain's Friendliest Business, with the winner receiving a cash prize of £5,000 & one day's consultancy with a leading marketing agency, to help them grow their business. Mildenstein said that the search is intended to show Liberis's commitment to community-centric, local businesses across the UK.

"The most important thing we offer at Liberis is the personal, friendly connection to our customers, and we wanted to show our recognition and appreciation to business owners across the country who run their businesses the same way. We know that the people of Britain love their local businesses and we think it's important that these can be recognised.  It could be anything from your local hairdresser going above and beyond to an online start-up providing a personal service."

The campaign for Britain's Friendliest Business will be tracked on Twitter via the hashtag #BFBiz and the @LiberisUK handle. A shortlist of 20 businesses will be announced in late January and ultimately narrowed to three finalists, with the winner to be announced in late February 2014.

To enter the competition and for more information, see www.liberis.co.uk/bfbiz.

About Liberis

Liberis was established in 2007, and is the UK's largest provider of cash advances for small businesses. The company is headquartered in London and employs 20 staff. Generating over £14 million in revenue per annum, Liberis has over 1,600 customers across the country.

Business Cash Advance is a service offered by Liberis throughout the UK with its main arrangement being in partnership with Lloyds Bank Cardnet® whereby Liberis provides a cash advance to an SME, and the advance is paid back daily via an agreed % of each debit and credit card purchase made at the business. This small payment is automatically diverted to Liberis at the source of payment by the merchant services provider. The Business Cash Advance service is a simple practical alternative to an unsecured business loan or bank overdraft.

To apply for a Business Cash Advance applicants must be in business for 9 months or longer. Approval for the Business Cash Advance takes between 3-4 days, with funds available in 7-10 days and unlike a traditional loan, loan repayments are only set against future credit and debit card sales. The agreement 'split' of daily card sales to repay means that Liberis is paid only in proportion to what the merchant earns.

For more information, please visit http://www.Liberis.co.uk/