During the current crisis collaboration is key to unlocking the funds that small businesses desperately need. As a response, ANNA and Funding Xchange have created a partnership that will help support sole traders and small businesses navigate through the new government backed loan scheme (CBILS) landscape and other funding choices
ANNA’s Head of Customer Experience, Clair Bevan says “most of our customers are self-employed or run their own businesses which we know can be stressful enough at the best of times. At the moment, with so much uncertainty around, we’re trying to offer more ways of being useful to our customers. As ANNA isn’t a lender we can’t offer the government backed loans ourselves. However, partnering with the Funding Xchange allows our customers to access the best information and explore their options in a way that’s clear and simple.”
Echoing the above, Funding Xchange’s Katrin Herrling says “We know how difficult it can be to look for funding while running your business. Our mission is to make it quick and easy for small businesses to find the solution that’s best for them. The government has recently launched a range of finance support schemes to help keep the UK’s small businesses on a secure financial footing. However, the information keeps changing, is often complex, and borrowing money is only one of the approaches an SME might consider. The Funding Xchange platform helps you to explore your wider choices, including with lenders who aren’t part of the CBILS scheme and other ways to protect cashflow.”
Building on their commitment to collaboration, Funding Xchange have now launched a Coronavirus Business Interruption Loan Scheme (CIBLS) Partner Communication Hub. It gives ANNA, and other partners, easy access to all the information needed to support customers who are looking for financial information. New content is set to be added to the hub including guides, videos and unique market. It is designed to be republished via emails, blogs and other channels where partners engage with their customers.
The recently announced CIBLS supports loans from £1,000 to £5m. Funding Xchange works with businesses of any size and enables users to check their eligibility from CBILS approved lenders to over 40 other lenders as well as suggesting alternative solutions.
ANNA does not make any financial gain or commission from the CBILS scheme.