UK accountants value positive impact of business lending platform on client service and business growth
Spotcap UK today announced strong momentum for its partnership programme for accountants. Introduced in October 2016, when Spotcap launched its operations in the UK and developed in collaboration with partners globally, the programme’s objective is to provide accountants with an online unsecured financing service for UK businesses that is flexible and easy to use.
The Institute of Chartered Accountants in England and Wales (ICAEW), whose membership advises over 1.5m businesses points out that “basic accounting services are being commoditised.” The central question of course is: What can accountants do differently that will allow them to provide a higher-quality differentiated service?
That is where Spotcap comes into play—by providing businesses with flexible credit lines of up to £300k through an easy to use online portal, accountants can source finance on behalf of their clients.
For accountants who don’t already work directly with finance providers, partnering with Spotcap is an opportunity to provide a value-added service to their clients, build trust and strengthen existing client relationships.
For accountants that already work with other alternative lenders, Spotcap sets itself apart by offering:
- A truly unsecured loan with no personal or director’s guarantee needed. Our ability to offer an unsecured loan is based on our high-quality underwriting and risk assessment, which is similar to that used by traditional banks, only we use tech to speed it up and are able to do a predictive analysis as well.
- Fast and simple online application process — credit decision within one working day
- Dedicated account manager
Looking ahead, accountants need to position themselves so that they provide value-added counsel in specific areas, including financing. UK businesses need easily accessible short-term financing and, more importantly, they need it alongside counsel and planning from someone who knows their business.
Juliette Peyraud, senior account manager, Spotcap UK, who travels across the UK meeting with accounting practitioners, comments: “There are three key benefits about working with us I hear over and over again. First, by providing counsel on alternative ways to access financing accountants feel they build trust and strengthen existing relationships. Second, they are able to move the sourcing of capital for clients in-house, thereby creating a new revenue stream. Third, providing access to financing has in some instances helped win new clients as it demonstrates a customer-centric service approach.”
For further information about the Spotcap partner programme, please visit: https://www.spotcap.co.uk/partners/.
Originally published May 23 2018 , updated February 24 2020