UK-based Muse Finance has rolled out a new business finance product that clubs supply finance and invoice finance to address the rising demand for an extension to working capital.

The new solution is designed to enable small businesses in the UK to pay overseas suppliers against the money tied up in their pending invoices.

With supply finance, Muse Finance will pay suppliers on behalf of its customers, thereby enhancing their cash flow flexibility even as they wait for goods to arrive.

Muse Finance will give customers 120 days to repay the loan amount.

By integrating Invoice Finance, Muse will allow customers to claim up to 90% of the value of their invoices within 24-hours.

“This level of flexibility is increasingly important given new regulations surrounding Brexit and the fallout of Coronavirus Pandemic, both of which have caused delays in the shipment of goods to the UK, and an increased demand for working capital,” the business finance start-up said in its statement.

The clubbing of supply and invoice finance will eliminate the need of customers going for additional debt to make repayments.

Muse Finance noted that process will be managed through it portal.

The company will handle the complete finance process on behalf of its business customers starting from application for finance, through to supplier payment and invoice management.

Muse Finance founder and CEO Ann Marie Juliano said: “Our new combined supply and invoice finance solution will help our customers seeking fast access to funds to continue to grow their business whilst alleviating the cash flow pressures that they often face.

“By facilitating the fast access to funds for businesses and their suppliers, we hope to help improve their relationships with their partners and streamline their business operations.”