Xero & Liberis integration for ‘a better way to borrow’

By Rob Straathof, CEO

Card-based finance provider Liberis has announced an integration with Xero, the UK’s leading online accounting software for small businesses and their advisors, to bring small businesses ‘a better way to borrow’.

Through this collaboration, customers can choose to advance their credit or debit card takings through Liberis’ Business Cash Advance (BCA) product, and then align the details of their business finance with their Xero account.

Liberis’ BCA utilises repayment technology for business owners, and automatically diverts a small, pre-agreed percentage of their daily card takings to make their repayments. This works seamlessly with the business’s cash flow, rather than against it, so it’s ideal for those struggling to maintain a level revenue stream and wouldn’t be able to meet the fixed monthly costs of a traditional bank loan.

An advance of up to one month of the business’s card takings is available, ranging between £2,500 – 300,000, which can be used for stock, refurbishment, cash flow or any other business needs. Additionally, with Liberis, the service can be offered to customers with no interest, APR or hidden costs – just one fixed fee, bespoke to the business and agreed upon upfront.

Rob Straathof, CEO at Liberis, said: “We use repayment technology that makes it simple for business owners to access and then repay the finance they need to grow, with an automatically diverted, pre-agreed percentage of every card transaction being sent to Liberis until the advance is repaid. Crucially this means that instead of a fixed amount every month, repayments are flexible and proportional to the revenue of the business.”

In addition, through the Xero and Liberis integration, business owners will now be able to access and instantly connect their Xero account to their BCA application too.

They will be able to see their repayments in Xero, meaning easier reconciliation of bank accounts and liabilities. And, with automatic categorisation and real-time cash flow updates removing hassle, owners are free to concentrate on the running of their business instead.

This will appeal highly to business owners feeling underserved by traditional finance providers, who are looking for a simpler, more flexible way to borrow and make repayments on their finance.
Striving to improve small businesses’ access to capital and credit, the Xero and Liberis integration comes soon after Liberis’ recently announced partnership with Sage Pay, and the collaborative launch of Sage Pay Business Finance.

To find out more about the Xero and Liberis integration and the benefits it brings to UK small businesses, please visit https://www.liberis.co.uk/xero