We're now offering new FX services to our business customers
We've partnered with FX specialists to provide these services, which include the ability to lock in rates for future transactions
The services have been developed for SMEs that are currently supplying to and buying from overseas territories, providing a means to combat the currency exchange uncertainty generated by Brexit.
Features will include the ability to lock in fixed transaction rates for future exchanges, ensuring that businesses are not stung by fluctuating currency rates and enabling them to better control their international payments.
For example, the Pound lost 10 cents / 8% of dollar value ($1.32 to $1.22) from March to September this year, which could have significantly increased the cost of buying in USD for a UK SME if not protected by a ‘forward contract’.
Furthermore, when the majority of SMEs begin export and import activities they rely on their existing bank to provide them with FX services. Often, this reliance prevents small businesses from receiving the most competitive rates or utilising the most effective payment methods, and with 45% of small businesses trading with some overseas partners, this represents a considerable number of SMEs losing out.1
This compounds an existing issue for SMEs, namely that they don’t feel they are being well provided for by the ‘one-size-fits-all’ approach offered by traditional banks. Research1 from Just Cashflow found that an overwhelming majority (70%) of SME owners felt they were not being well served by the offering from their existing banks.
As a SME-focused alternative finance provider, we're able to offer small businesses FX services that are tailored to their needs, outperforming what is available from traditional banks.
To provide this product we've partnered with FX specialist Ebury, which will ensure exchange capabilities in more than 130 currencies.
John Davies, Executive Chairman at the JLG Group: “Today’s business environment is one of unprecedented upheaval, and small businesses often feel the brunt of these fluctuations."
From conversations with our customers it is clear they are concerned about the impact of this uncertainty on invoices and receipts from overseas. Time-starved business owners need to ensure their all-important cash-flow and can’t afford to risk currency fluctuations working against them."
"“At Just Cashflow we believe that lenders have a responsibility to provide SMEs with more than just money - which is why we have decided to provide competitive and efficient FX payments for our customers going forward.”
At Just Cash Flow PLC we partner with ambitious, well run businesses by providing fast flexible financial help to ensure sustainable long term growth and prosperity. Our principal product is our Revolving Credit Facility that works in exactly the same way as a traditional bank overdraft.
We employ a combination of technology to quickly assess if businesses qualify for our flexible finance options. Highly experienced business underwriters then take the time to show genuine interest in potential customers’ businesses and recommend the appropriate facility.
Increasingly, we are now offering additional banking services to our customers that they tell us they would value.
Ebury is a financial technology company, specialising in cross-border payments and FX risk management. Ebury’s unique product offering helps businesses to accelerate their international growth by unlocking capital and protecting their margins. Using innovative products and technology, they are able to bring the kind of service and pricing normally reserved by banks for their largest clients to SMEs. Currently, Ebury works with over 45,000 businesses and organizations around the globe, has traded over $23bn in foreign exchange in the past 12 months.
1. Just Cashflow polled 500 SME decision makers on a range of issues, via online polling agency Onepoll. The research was carried out online between the 2nd and 5th October 2019.
This article also appeared in:
Date Issued Nov 2019.
Just scroll through the timeline for all our news and video.
Watch the TFT Webinar ReviewRead More
Government must extend loan guarantee scheme to new lenders to save businesses, says the Alternative Association of Businesss Finance.Read More
In the battle against annual £1.5bn SME losses from fraud,1 Just Cashflow provides ‘first line of defence’ software and expertise free to all customers.Read More
elping bridge the SME knowledge gap, which will become increasingly important post-BrexitRead More
Achieved though investments made in people, infrastructure and technologyRead More
Good Business Is All About Developing Good Relationships. There are many factors that contribute to developing and growing a business; having enough funding to support the business in its growth phase, managing day to day cash flow and employing the right people, to mention just a few.Read More
This is for the second successive month - the first time this has been achievedRead More
JLG Group PLC is one of the seven founder members of the newly launched Association of Alternative Business Finance (AABF).Read More
The parent company of Just Cash Flow PLC has become a benefactor of 'Project Rome', a campaign from the Emerging Payments Association (EPA) lobbying for fairer access to payments infrastructure through FinTech providers.Read More
John Davies was interviewed by Credit Collections & Risk magazine.Read More
We've become Europe's first alternative lender to provide card access to business finance for use at point of sale.Read Now
John Davies, director of JLG Group PLC, was interviewed by This Is Money.
He shares his top tips on what you can do to make your business seem more appealing to lenders - so that your application for a loan is more likely to be accepted.This Is Money website
According to research conducted by Just Cash Flow PLC. Fewer UK businesses would fail if owners had more knowledge of the world of business prior to taking the plunge and setting up themselves, according to two thirds (63%) of SME owners.Read Now
The key to unlocking billions of pounds in UK property professionals' portfolios is being provided by Just Cash Flow PLC at the NACFB Expo conference on 17th June.Read Now
One of the first questions Just Cash Flow PLC asks a prospective customer is have they approached their Bank. However, it is clear that alternative lenders provide a much faster solution and are well positioned to serve and understand small businesses.Read More
UK businesses keen to grow and expand are set to benefit from an innovative linkup between leading P2B crowdlending platform FundingKnight and alternative finance provider Just Cash Flow PLC.Read Now
The feedback was unanimous to Bridging and Commercial's poll...Read More
The Business Show 2014 OlympiaWatch Now
Interviewed by Britain Means Business.Watch Now
As industry debates circulate about the value of the human touch versus technology, commercial lender Just Cashflow has proved its positioning on business relationships by prepping to recruit 8 more Business Development Managers.Read More
For Professional Firms to cover late payment of fees to them OR for their clients so that they can pay their fees on time.Read More
Alternative lenders such as Just Cash Flow are in a privileged and responsible position as we get to see the plans of businesses keen to invest and grow. Many are well thought out, based on...Read More
"Too many small businesses don't survive"Read More
Just Cashflow's twitter interview with Bizitalk discussed whether a national qualification for company Directors should exist?Read More
Then get credit worthy.Read More
Just Cash Flow PLC launched in the UK in early 2014. Marketing Director John Davies reflects on experience to dateRead More
Just Cash Flow PLC has added a new product to its expanding portfolio of facilities designed to help UK businesses fund their growth.Read More
After passing £1 million in lending this June, Just Cashflow has now accelerated through the £3 million milestone in what is usually a quiet month for the industry.Read More
Just Cashflow has been revealed as the latest sponsor of the highly anticipated 2014 Finance Professional ShowRead More
Just Cash Flow PLC has announced it is celebrating its first million pound milestone, after only soft-launching in March.Read More
Insights is Just Cashflow's online resource and information centre for ambitious growing businesses.
It offers inspirational profiles, expert knowledge and more, backed up by a range of briefings, checklists and other information that we hope will help you to develop your business.