IBS Intelligence

Funding Xchange partners with Experian for enhanced SME lending

Publication: IBS Intelligence
21st April 2020

California-based global information services company, Experian has entered into a partnership with online small business funding platform, Funding Xchange in a bid to provide SME customers with access to funding choices. Commenting on the partnership, entrepreneur, and CEO at Funding Xchange, Katrin Herrling, said: “Funding Xchange has built up a comprehensive panel of small business lenders with a wide range of financial products and credit appetite which gives Experian's small business customers a better chance of finding the money they need when they need it.” According to the suppliers, the partnership will allow businesses to look for appropriate funding solutions with information on credit-worthiness using real-time data. It is expected to integrate Funding Xchange's lending platform with Experian's business tool 'My Business Profile' thus allowing greater capital for deserving businesses. A free trial of Experian's My Business Profile will be provided to the SMEs which will include full visibility of their business credit profile as well as causes affecting their business credit score. James McGarva, Head of Business Information at Experian, said: “We understand that many small businesses can lack sufficient cash to fuel business growth, so relying on funding gives them the necessary resources to improve the scale of their operation. At the same time, it's also important for owners and directors of SMEs to better understand how they can strengthen their credit history to give them the best chance of securing that funding. That's why we are excited to be working with Funding Xchange, as it gives our customers a seamless link to the appropriate finance options, while also giving the opportunity for those turned down for credit to get the support they need to improve their business credit score. We hope that through this partnership we can help support the success of many more small businesses.” Recently, Lending as a Service (LaaS) solution provider, ezbob, collaborated with Funding Xchange to provide SMEs with access to suitable funding options through an integrated marketplace solution. This article was published on IBS Intelligence 21st April 2020