Not all heroes wear capes
After helping a small business client secure finance with iwoca in just five hours, Bristol-based TMT Accounting was described as ‘a hero’, says Richard Sutton.
It’s not every day that an accountant is hailed a hero, but that’s how Kieron Townsend, founder of TMT Accounting, was described by one particular client after introducing them to iwoca.
Earlier this year, Townsend was visiting the Quickbooks Connect event when he received a call from a worried client who needed funds that very day. This particular small business was waiting on a number of payments, so didn’t have the funds available to pay staff. To make matters worse, it was the day before the payroll run.
Luckily, Townsend already knew of iwoca and, as it happens, had spent time chatting with one or two of the team at the event itself. By being able to provide same-day access to finance, he knew iwoca was built for these situations, so recommended his client get in touch right aAway.
“I knew there was no chance of a bank being able to help in time, so I pointed my client in the direction of iwoca. Amazingly, they provided the funds in five hours. My client was delighted,” Townsend explained.
Being able to draw down £7,000 online instantly, after being approved, meant Townsend’s client was able to pay staff on time.
Typically, TMT Accounting will take care of the finance process for customers, but iwoca’s five-minute applications kept things simple, meaning his client could complete it themselves. Because Townsend was out of the office at the time, this proved to be a big help.
With one delighted (and very relieved) customer, Townsend sees iwoca as the perfect safety net for any one of his 100 small business clients in need of short-term finance, and one that also gives TMT the opportunity to widen its range of services. He said: “We’re a forward-thinking accountancy with aims of mastering the add-on marketplace, so being able to help our small business clients secure finance so impressively quickly is another string to our bow.”
- Richard Sutton is iwoca’s Head of Accountant Relationships. iwoca is an ICPA partner – for details go to https://tinyurl.com/y8hd6t5l
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