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Lloyds Bank to provide invoice financing to Sage customers

Lloyds Bank to provide invoice financing to Sage customers

Lloyds Bank is partnering with Sage and Satago to offer instant financing to Sage customers based on the value of unpiad invoices.

Available in the UK from Q4 2022, the three-way partnership offer fast and flexible access to cash from unpaid invoices, helping small businesses better manage cash flow.

In March, Lloyds Bank invested £5 million for a 20% stake in invoice financing startup Satago and plans use the platform for its Single Invoice Finance and whole of book Invoice Factoring customers.

The forthcoming roll out was announced at the Sage Partner Summit in Texas, where the enterprise software company also detailed its collaboration with ADP to streamline the flow of information between Sage products and ADP’s WorkForce Now (WFN) technology, synchronizing employee data and payroll entries, and improving the quality of reporting.

Aziz Benmalek, president, Sage North America, says: “The partnerships we have announced today with Lloyds Bank plc, Satago, and specifically ADP offer our resellers the opportunity to put enterprise-grade solutions into the hands of SMB customers.”

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