Amex brings SME financing to UK with ezbob
Through this partnership, eligible Amex business clients will receive a referral to apply for up to £300,000 in finance from ezbob at a fixed annual interest rate from 3%.
Carlos Carriedo, senior vice-president of global commercial services at Amex, says: “We know agility is crucial for smaller businesses to help retain a competitive advantage but accessing the finance needed to react swiftly to changing customer demands, or seize an opportunity, can be a challenge.”
Amex customers taking out a loan with ezbob will also benefit from a 40,000 Membership Reward points offer, the company adds.
Ezbob will enable eligible Amex UK-based SME business customers to access quick and paper-free credit. The firm says companies can apply for a loan in ten minutes – and, if successful – receive funds on the same day.
Carriedo continues: “We’re committed to helping UK businesses to ensure they can capture growth opportunities – whether that’s investing in headcount, optimising seasonality, refurbing premises or simply funding a large order.”
Amex and Oxford Economics recently conducted a global study of senior executives of 3,000 SMEs, which revealed that while UK SMEs remain confident, a significant number (24%) struggle to access finance to help grow and support their business.
The research highlighted that hidden fees, a lack of flexible repayment options and lengthy application processes are among the greatest challenges for small businesses looking to access finance or capital.