Invoice finance firm Optimum Finance has launched an ‘industry first’ app aimed at accountants to empower them to gain almost immediate funding approval for their SME clients.

Optimum Finance provides tailored funding solutions for SMEs to enable them to release cash tied up in client and customer invoices.

The mobile and desktop app offers referrers to Optimum Finance the chance to answer a series of eight simple questions based on the financial position of the business including turnover, age of the business, company registration number and number of customers.

The app includes a live approval system based on the information entered about a business by its accountant so that an instant decision can be made, and a funding deal offered to the business.

The basis of the app is to remove the often lengthy and complex application processes that are associated with commercial finance funding.  With less bureaucracy, SME owners can continue to focus on the day to day running of their businesses without the distraction of securing external finance.

Each application takes less than five minutes and an answer will be provided within minutes based on the criteria supplied.

Accountants can complete as many applications as they want, with one for each client.

Commenting on the launch of the app, Optimum Finance CEO Richard Pepler, said: “Poor cash flow is the main reason for pressure on business owners and managers in the UK.

“Larger companies can often insist on lengthy payment terms or fail to pay on invoice due dates and this puts pressure on companies, which still have to pay staff and their own suppliers.

“A healthy and crucially, reliable, cash flow not only means business owners can plan ahead it also enables capital investment strategies to become reality which in turn results in business growth.”

Optimum Finance offers a range of flexible funding solutions which grow alongside clients’ businesses. Products include invoice discounting and factoring as well as a dedicated credit control team if clients prefer to also outsource this element of their financial management.

To gain access to the app accountants should contact the Optimum Finance team for a personal login.