Finance for clients isn’t all about banks anymore

Richard Sutton explains how Yare Accountancy Services used iwoca’s innovative finance solution to help a client grow.

It’s no secret that small businesses are struggling to get finance from banks. Access to finance is critical for small business to manage cash flow and invest in growth, so business owners are turning to accountants for trusted and impartial advice on alternative sources of finances.

Here at iwoca, our mission is to fuel economic growth by offering small businesses the funding they need. We work with accountants across the UK to make access to finance easy for accountants and their clients. We use technology and data to make the application process simple and make super-fast credit decisions.

Paul Ryan, founder of Yare Accountancy Services, an ICPA member, first discovered iwoca through an article on the ICPA website and then met the iwoca team at their stand at a recent accountancy expo. It quickly became apparent how well the iwoca service suited his clients’ and his company’s needs. He decided to try our credit facility for his own practise before discussing it with any clients.



Founded 1984, Ryan has built his business into a leading Norfolk accountancy practice offering full package financial advisory and bookkeeping services. He explains that a company like Yare Accountancy benefits significantly from having a suitable credit facility in place: “When you run a business with 600 clients there is always a need for funding because they will not always pay on time. So you need funds to cover business costs until you receive the fees owed.”

Ryan says: “I initially wanted to understand how it works in order to be confident about recommending it to clients who might need such a facility. I tend to learn about a new product by trying it myself, and that’s exactly what I’ve done with iwoca.”

“The iwoca system is straightforward. You know from the outset exactly how the facility works. I filled in the information online on a Sunday, then spoke with iwoca on the Monday.” The next day Ryan was approved for funding and drew down £7,000.

Like many other accountants, Ryan has clients who are in need of solutions for managing cash flow. “There are some clients who come to me with cash flow problems and now I know who to put them in touch with, or I can even submit a credit application to iwoca on their behalf using iwoca’s introducer portal. I look after a chain of three optician shops and if they experience any cash flow constraints I will be coming straight to iwoca in future.”

As his accountancy practice expands, Ryan is planning to train his staff about alternative finance providers like iwoca so that they can provide an even better level of advisory services to clients.

iwoca is fully focused on serving the finance needs of small businesses and has already funded more than 12,000 small businesses since launching five years ago. Helping practitioners like Ryan secure finance for clients is part of our strategy for achieving goal of funding more than one million small businesses in the next decade.

  • Richard Sutton is Head of Accountant Relationships at iwoca

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