Global payment services, American Express has announced today a new partnership.
Offering online financing innovation, AMEX has partnered with ezbob, the best in its
class, to offer small-to medium-sized UK businesses fast, secure and competitive
access to finance.
Through this partnership, eligible American Express business clients, will receive a
referral to apply for up to £300,000 in finance. ezbob offers competitive, fixed
annual interest rate from 3% per year. American Express customers taking out a loan
with ezbob will also benefit from a 40,000 Membership Reward points offer*.
With its streamlined, fully automated lending proposition for financial institutions,
fintech ezbob is one of the most advanced business lending platforms available in
the UK. The platform will enable eligible American Express small to mid-sized UK
based business customers to access quick, reliable and paper-free credit from ezbob.
Using the online loan calculator, companies seeking fast access to finance can apply
for a loan in ten minutes – and, if successful – receive funds on the same day.
Commenting on the partnership, Carlos Carriedo, Senior Vice President of Global
Commercial Services at American Express, said: “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. Building on the existing support we offer
businesses to help them manage payments across the entirety of their supply
chains, we’ve teamed up with ezbob to explore offering our customers low cost
access to new capital, which can help keep their business moving.”
He continued: "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."
American Express 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.
Tomer Guriel, founder and CEO, of ezbob said: "We are very excited about the
opportunities our partnership with American Express represents for our
respective firms. Their decision to partner with us to offer their UK customers
a new way to access short-term finance reflects ezbob’s advanced functionality
and the rapid implementation capabilities of the platform delivered through a
fully managed support model. Providing streamlined access to financing for SMEs
was a founding principle for developing the ezbob platform".
* This offer only available to successful applicants until 30 November
* In October and November 2017, Oxford Economics surveyed senior
executives at 3,000 SMEs, ranging in size from 10 to 250 employees across 12
countries and 16 industries, to inform the American Express SME Pulse 2018:
Strategies for Sustainable Growth report. The findings quoted are specific
to the UK.
For more information, please contact:
+44 20 3434 3846
American Express contact: Samina Ansari
About American Express Global Commercial Services
Through our Global Commercial Services division, American Express offers powerful
backing and support that helps companies of all sizes gain financial savings,
control and efficiency. We provide a suite of payment and lending products,
solutions for travel and everyday business spending, cross border payments, global
currency solutions, and business financing.
To learn more about products and services for small businesses and entrepreneurs visit American Express Business Cards
About American Express
American Express is a globally integrated payments
company, providing customers with access to products, insights and experiences that
enrich lives and build business success. Learn more at americanexpress.com and
connect with us on facebook.com/americanexpress, instagram.com/americanexpress,
linkedin.com/company/american-express, twitter.com/ americanexpress, and
Ezbob has received the recognition of both
banks and international institutions for its pioneering technology. The company was
founded in 2011 with a mission to build a team of industry practitioners and
technology experts dedicated to transforming the way SMEs access financing.
its launch, the company has provided funding to thousands of businesses across the
UK. It has built the most advanced business lending platform available in the market
today, a platform which has been used by the company itself as a critical component
of its lending business
Ezbob has won awards and has been chosen to showcase its
technology at leading financial technology events such as Finovate Europe, Money2020
Ezbob has 60 employees from 11 countries, with offices in London, Tel Aviv
Ezbob is authorised and regulated by the Financial Conduct Authority.