Collaboration will mean SMEs can secure finance and energy products at competitive rates from multiple providers via a single marketplace
Business Finance marketplace Funding Options has teamed up with Love Energy Savings, the UK’s leading energy comparison experts for gas and electricity, to offer unbiased and fair comparisons on over 150 business tariffs from over 17 providers. The strategic partnership will help business owners save time and money sourcing the best energy offers from the same platform they use to find growth finance.
UK SMEs currently spend over £7 billion a year on gas, but if they switched suppliers they could collectively save up to £1.7bn. Love Energy Savings has a large panel of suppliers which includes British Gas, Scottish Power, Octopus Energy and Npower and has facilitated over 350,000 switches saving UK Businesses over £100m so far.
Funding Options has a roster of more than 120 active lenders and helps businesses access funds quickly through its Funding Cloud™ platform. Its record from application to approval is just 20 seconds, with the previous record being 2 minutes and 56 seconds. With a shared vision to give SMEs more choice across finance and energy, the relationship is designed to simplify the lives of business owners already dealing with the challenges that Covid-19 has presented. Through the partnership, Funding Options customers will be able to access the best energy offers on the market.
Simon Cureton, Chief Executive Officer at Funding Options, comments: “We are excited to be partnering with Love Energy Savings, with which our core proposition is aligned, offering SMEs a broad array of energy options to save them time and money. This partnership supports Funding Options’ ambition to become the marketplace of choice for SMEs, across key verticals. Both Love Energy Savings and Funding Options deliver innovative technology and data-driven solutions to SMEs at speed – from accessing finance in 20 seconds to getting price comparison in under a minute. This means business owners can spend less time searching for the right provider, save money and focus on what’s important; growing their business.”
Phil Windas, Chief Marketing Officer at Love Energy Savings, comments: “We’re delighted to be partnering with Funding Options, who share our goal to help businesses grow and thrive. Our mission is to make buying energy as simple and straightforward as possible using state-of-the-art technology, so it’s great that we can now work alongside Funding Options, which provides businesses access to the finance they need quickly and without a complex application process. This partnership will most importantly benefit SMEs, the backbone of the UK economy. They have faced uncertainty and hardship as a result of the pandemic and together we can help them save even more time and money, which can be put to better use to help them build back their businesses.”