Warrington, 14 October 2015 – Synaxon UK has formed a partnership with iwoca, an award-winning business finance provider, giving members instant access to flexible credit facilities that will make it easier for them to invest in new business projects.
Launched in 2012, iwoca has quickly grown to become one of the leading providers of finance in the UK and Europe. By using technology to eliminate the cost and complexity associated with traditional business credit, iwoca enables smaller players to take advantage of opportunities previously only available to their larger peers.
This means smaller resellers can compete for opportunities that would otherwise lie beyond their reach, says Mike Barron, UK Channel Director for Synaxon. “iwoca can make all the difference for smaller resellers and retailers that might otherwise struggle to obtain the backing they need to finance serious business deals. With iwoca, there are no up-front fees, no lengthy forms and no long-term commitments.
This is a fast, flexible source of finance that can be used by our members to fund new business and take opportunities, without having to rely in the credit facilities offered by distributors. It will enable them to bid with confidence, knowing that they will be able to finance the deal.”
Barron says that where members are unable to get credit from distribution, or have used up their credit limit, iwoca can provide a fast and practical solution. Synaxon estimates that iwoca has the capacity to make up to £4m worth of credit available exclusively to its members.
Synaxon already works closely with its distribution partners to ensure that members have access to credit facilities. Synaxon members are able to discuss credit directly with Ingram Micro’s dedicated Synaxon account managers, for example, and Beta Distribution offers all Synaxon members an immediate £1000 credit limit, which can be built-up further based on their trade. The partnership with iwoca offers members another option which can be used alongside existing facilities.
Picture: Mike Barron