Muse Finance - the business finance startup - today announces that it has launched a new solution combining supply finance and invoice finance, to help businesses pay overseas suppliers while unlocking cash tied up in their pending invoices.

The new business finance product was developed by Muse after recognising a rising demand for an extension to working capital in the UK. By alleviating the financial burden on small businesses when paying their suppliers, as well as increased flexibility when repaying finance - customers can better manage their cash flow and maintain supplier relations.

With Supply Finance, Muse pays suppliers on its customers’ behalf for goods they are bringing into the UK from overseas for their business. By doing so, Muse’s customers benefit from increased cash flow flexibility while they wait for goods to arrive in the UK - repaying the loan over a 120-day period. By integrating Invoice Finance, Muse also subsequently eases the repayment of the Supply Finance by enabling customers to claim 90% of the value of their invoices within 24-hours.

This level of flexibility is increasingly important given new regulations surrounding Brexit and the fallout of Coronavirus Pandemic, both of which have caused delays in the shipment of goods to the UK, and an increased demand for working capital.

By combining Supply and Invoice Finance, customers can also eliminate the need to take on additional debt - via a business overdraft, or in company credit - to meet repayments. Managed via the Muse portal, customers can easily monitor their cash flow and see when funds are available to their business, helping them to better forecast for future work. From application for finance, through to supplier payment and invoice management, Muse also handles the entire finance process on behalf of its business customers - alleviating the need to chase for payment.

Ringside Boxing Ltd, a provider of premium boxing equipment, is one of the first of Muse’s customers to have utilised the solution.

Ann Marie Juliano, Founder & CEO of Muse Finance said,

“Our new combined supply and invoice finance solution will help our customers seeking fast access to funds to continue to grow their business whilst alleviating the cash flow pressures that they often face. By facilitating the fast access to funds for businesses and their suppliers, we hope to help improve their relationships with their partners and streamline their business operations.”

David Hill, Director of Ringside Boxing Ltd said,

“With supply chains getting longer and longer in the wake of Brexit and the pandemic, maintaining financial stability of our business, but also ensuring our suppliers are paid on time is of paramount importance. Muse Finance’s Supply & Invoice Finance facility has helped us do just that, allowing us to make an order which has helped to grow our business, but with accessible repayment terms. We’re thankful for the increased flexibility that Muse has given our business, as well as the high level of service the team has provided when using the product.”