Xero expands capital and credit sources to UK Business

Latest Xero integrations bridge the gap between small businesses and financial service providers

Xero today announced a series of new integration agreements that will improve small businesses’ access to capital and credit. The carefully curated set of business finance providers will bridge a critical need for businesses to achieve their objectives. The announcement accelerates the progress of Xero’s financial web, giving small businesses and their advisors easier access to the services and funds they need to manage and grow their operations.

The integrations, built on top of Xero’s industry leading open API, will help more small businesses make smarter decisions, improve cash flow, get paid faster and access capital quickly. Accountants and bookkeepers can also use the financial web to expose new services and insights for their clients, and ensure the integrity of the data they’re using.

Gary Turner, managing director UK of Xero said, “the philosophy is simple; better accounting data leads to better decisions and easier access to capital needed by so many small businesses.”

The latest business finance apps to integrate with Xero and help small businesses make smarter decisions, improve cash flow, get paid faster and access capital quickly, include:

DueCourse allows small businesses to get paid within hours after sending an invoice, rather than waiting 30, 60 or even 90 days. This means small business owners can focus on doing the things they love, rather than chasing invoices and worrying about when they will get paid.

iwoca offers small businesses a flexible, unsecured credit line of up to £100,000, which they can draw down within hours of applying. There are no upfront fees, and businesses can pay back over 12 months, top up or repay early with no penalties. Having served over 10,000 customers since its launch in 2012, iwoca is one of the UK’s leading providers of flexible working capital.