Just Cash Flow PLC Launches Borrower Facing App

Small business lending platform Just Cash Flow PLC is claiming to have become the first European alternative lender to launch a mobile app that allows customers to manage their money on the move.

The app will allow small business owners to manage their Just Cash Flow funding facilities from wherever they are, at the touch of a button. The app will allow borrowers to check up on their account balances, to securely draw funds, to make repayments, to check transaction history and to contact the platform's customer services team.

Just Cash Flow is clearly making a conscious effort to enhance the accessibility of the platform. In November last year we saw the platform launch what was then billed as the first card-based solution to have emerged within the UK’s alternative lending scene.  The “BusinessPlus MasterCard” allows SMEs to access credit lines of up to £25,000 – with a flexible repayment structure attached. Just Cash Flow CEO John Davies explained at the time that borrowers can load the card with funds at a moment’s notice, for the purpose of anything from covering the expense of a delivery van breaking down, to funding a sudden need for temporary staff.

As to the new app, Just Cash Flow is calling it a first within Europe’s sprawling alternative lending space. We can’t find a reason to refute that claim. Funding Circle has an app, but it’s investor facing. NYSE-listed OnDeck has a borrower-facing app that looks a great deal like the newly launched Just Cash Flow equivalent – but OnDeck is only active in the US, Canada and Australia.

Just Cash Flow provides credit facilities to the UK’s small businesses via a technology led platform interface. The platform often describes itself as “an alternative bank overdraft”. The Just Cash Flow product might be more expensive than bank solutions, but it’s designed to be a great deal more flexible too, and can be advanced far more swiftly than a traditional overdraft. Just Cash Flow’s proprietary scoring system – “PropensityPlus” – powers the platform’s credit decisions, and factors in a range of historical data points that in many cases are not incorporated into banking models. 

Mr. Davies offered his thoughts on the newly launched app:

“Customers consistently tell us that time is the enemy both when they are applying for finance and having to manage daily cash flow challenges. Business owners are constantly on the move and juggling the many demands on their time.”

“Through our new App the ‘financial juggling’ can now be done wherever they are and a few clicks on the phone will allow them to access the information and finance they need to help manage and grow their businesses. I know from experience they will put the time saved to excellent use.”

“Many of our customers will be using the new App to move money onto their BusinessPlus Prepaid MasterCard® for use at point of sale. It’s not enough to simply provide SMEs with much needed funding and that’s why we are focusing on also providing quick, convenient and time saving access.”