‘Services only’ funding for an e-commerce software project

UTUnited Trust Bank is continuing to develop its offering to the Technology market place and provide our brokers with additional innovation to offer their customer base. In one instance, an SME wanted to customise an e-commerce platform to make it more suitable for their business. The licenses for the system had been purchased over 3 months before, and now the business wanted to fund the development and enhancement of the software.

A valued partner of the Bank has been involved with the project for some time, and on this occasion, the company in question wanted to take out a finance agreement over a 36 month term to smooth out the total cost of the services. The e-commerce platform would enable the firm to receive additional revenues through a new trading line but, as with many new ventures, the return would not be instant. By financing the majority of the project, the company could commit to this new project and pay for the solution as the platform delivered increasing revenue.

In the past, usually the only option available to the broker was to offer funding on the software only portion of this agreement. Now, UTB’s services financing allowed the broker for the first time to be able to offer a complete financial solution for their client’s full requirement.

Loan Amount: £150,000

Term: 3 years