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Step One

Visit the HMRC online services website at https://www.gov.uk/log-in-register-hmrc-online-services. Then, click the green ‘sign in’ button.

Step Two

In the ‘Business tax account,’ locate the section called ‘PAYE for employers.’ Here, you will find a summary of upcoming and overdue amounts, reflecting your HMRC status for PAYE.

Step Three

Under the ‘Your payments’ section, click ‘Check what you owe and make a payment.’

Step Four

This will show you your HMRC position for VAT.

At Momenta Finance, we believe that the right financial solution can be a game-changer for business growth. This case study highlights our successful collaboration with Acorn Business Finance to support a London-based solicitors firm in securing the funding they needed for a new project while simultaneously reducing their financial burden.

The Challenge

A well-established firm of solicitors in London approached Acorn Business Finance with a funding requirement for an upcoming project. During a detailed review of their business and financial needs, Stuart Gibson, Managing Director at Acorn, discovered that the firm had previously taken out a high-interest loan from a peer-to-peer lender. This loan was costing them nearly £7,000 a month—a significant strain on their finances.

The Solution

Recognising the potential for significant savings and better financial management, Stuart Gibson collaborated with Momenta Finance to devise a more cost-effective funding solution. Leveraging our extensive network of funders, Stuart proposed a bespoke financing option tailored to the client’s unique needs.

Our dedicated team, including Tom and Tim, worked closely with Acorn’s Simon Rickman to expedite the loan process. The solicitors firm, proactive and cooperative, swiftly provided all necessary documentation, enabling us to move quickly.

The Results

In just a few days from the initial proposal, we secured £150,000 in funding for the client. This new unsecured business loan not only covered the costs of their new project but also allowed them to repay the existing high-interest loan. The impact was immediate and substantial:

This case is a testament to the power of collaborative, client-focused financial solutions. By working closely with Acorn Business Finance and thoroughly understanding the client’s business, Momenta was able to deliver a funding solution that not only met their project needs but also significantly improved their overall financial health.

The challenge

In 2020, we reached a significant milestone when we were accredited by the British Business Bank to facilitate business lending during the COVID-19 pandemic. This was an exciting development for us, but it also brought to light various operational challenges within our organisation. Upon reviewing our decision-making funnel, we identified considerable opportunities to enhance our processes.

Determined to improve our decision-making through automation while valuing the expertise of our underwriters, we aimed to shift toward an “assisted decisioning” model. This would involve augmenting core processes with automated systems rather than replacing human judgment entirely. Consequently, we chose LendingMetrics’ Auto Decision Platform as our strategic partner to implement this new technology.

While our focus remains on lending excellence, we needed a partner who could guide us through the complexities of technological implementation. LendingMetrics was perfectly suited for this role. Despite initial reservations about the sophisticated capabilities of the Auto Decision Platform, the LendingMetrics team quickly brought us up to speed, involving us extensively in the implementation and launch process and integrating our feedback.

The implementation

“We are very data-driven,” we often say at Momenta Finance. Working with the Auto Decision Platform has opened up many avenues for optimisation discussions with LendingMetrics. Learning from data and making informed revisions to our decisioning processes are key pillars underpinning ADP’s design, aspects which have been pivotal throughout the implementation phase. This collaborative effort has resulted in a platform finely tuned to our specific needs.

Our close working relationship with the LendingMetrics team has been incredibly beneficial. “The biggest compliment I can pay them is their flexibility—it’s never just ‘computer says no’, it’s ‘let’s look into this’,” we often reflect.

The future

Looking to the future, we believe the perfect decision engine is just within our reach. We are committed to pushing further into embedded finance, deploying more innovative products, and upholding our data-driven approach. We are also exploring the potential of integrating AI to further enhance our decisioning processes, enabling us to analyse and learn from customer data more effectively.

As we continue to evolve, the Auto Decision Platform will remain central to our strategic vision at Momenta Finance.

Lending Metrics:

LendingMetrics is a multi-award-winning financial technology and data specialist. Its Auto Decision Platform (ADP) leads the way in assisted decisioning in the financial services sector, allowing lending approvals to be made in seconds rather than days. Since it was launched in 2016, ADP has permitted businesses to rapidly deliver increased lending volume, improve decision quality and reduce overheads. The platform utilises proprietary data solutions and is linked to all major credit rating agencies (CRAs) as well as other
third parties, including Open Banking platforms. LendingMetrics is registered as a CRA and AISP Open Banking provider and is authorised and regulated by the Financial Conduct Authority. It was named ‘Best Credit Risk Solution’ at the Credit & Collections Technology Awards four years running, and ‘Best Technology Partner’ at the Car Finance Awards of 2020. Additionally, it was named an Organic Growth 25 business after demonstrating high levels of growth, and has featured as a top 20 ‘premier’ company on the Credit and Collections power list two years in a row. The company’s robust technology and data infrastructure and “bluechip” partnership eco-system focus on delivering scalable and secure affordability, suitability and predictive solutions to the entire financial sector.

Joe from UK Asset Finance recently introduced a deal to Momenta, allowing us to facilitate a £50,000 unsecured business loan for their client. This timely financial support was crucial for the client to expand their online operations and staffing in light of a new contract.

The Challenge

To fulfill the requirements of a new contract, the borrower, an SME specialising in education and training for deaf individuals, required an unsecured business loan to enhance their online platform and increase their workforce. Although they received several offers, these were either too costly or too short-term.

The Solution

Josh, Business Development Manager for Momenta Finance, worked alongside Joe to tailor a solution that offered significantly better conditions than other lenders. The £50,000 loan over 36 months came with lower interest rates and favorable repayment terms, aligning perfectly with the client’s needs without burdening their cash flow.

“Working with Josh was a pleasure. This was our first deal with Momenta, and Josh’s expertise and dedication were crucial to its success. He was always available, knowledgeable, and supportive, addressing any concerns we had promptly. We chose Momenta as a partner because of their reputation for reliability in ensuring smooth and timely funding processes. We look forward to future collaborations,” said Joe.

About UK Asset Finance:

UK Asset Finance was founded in response to the evolving financial landscape. Where traditional banks have reduced lending, and many other brokerages lacked innovation and flexibility in their offerings. Recognising the growing need for tailored financing solutions, our team of experienced professionals established UK Asset Finance to fill this gap. With a commitment to innovation and personalised service, we strive to provide businesses with flexible and creative financial solutions to support their growth and success in today’s challenging environment.

About Momenta Finance

Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank to provide loans under the Recovery Loan Scheme. 

This year, Momenta Finance was shortlisted in two categories for the Business Moneyfacts Awards 2024, Best Alternative Business Funding Provider and Best Business Loan Provider. These nominations are a testament to our ongoing dedication to delivering innovative and effective financial solutions to businesses across the UK.

Business Moneyfacts Awards 2024

We are proud to announce that Momenta Finance received a Highly Commended accolade in the Best Alternative Business Funding Provider category and a Commended recognition in the Best Business Loan Provider category. 

“This recognition is a reflection of our collective commitment to excellence and innovation in the business finance sector. I am immensely proud of our team and thankful for the unwavering support from our brokers and partners.” – Luke Jooste, CEO at Momenta Finance.

A heartfelt thank you goes out to every member of the Momenta Finance team. Your hard work, dedication, and passion are the driving forces behind our accomplishments. Your efforts ensure that we continue to lead with innovation and service excellence in the competitive finance industry.

We owe a substantial part of our success to our brokers and partners. Your consistent support and trust empower us to continue innovating and improving. We are profoundly thankful for your partnership and look forward to achieving even greater successes together.

About Momenta Finance

Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank to provide loans under the Recovery Loan Scheme. 

British Business Bank Accreditation

Shortly after receiving our British Business Bank accreditation, we hit the ground running, successfully disbursing several RLS loans with an average of £150,000 each. This initiative has not only bolstered our loan offerings but also solidified our commitment to supporting the backbone of the UK economy—SMEs.

A Leap in Property Originations

Working with HSBC, we introduced a £100m funding line focused on residential bridging in the UK. Marking a significant leap in our operations. This strategic move resulted in unprecedented growth in property originations, witnessing a surge of 172% relative to the last quarter of the previous year. 

Setting New Benchmarks in Loan Approvals

Our credit team has been at the forefront of this journey, processing over 3,000 applications in the past quarter alone. This not only set new benchmarks in loan approvals but also played a crucial role in providing essential funding to SMEs, leading to remarkable growth in our Business Loan book.

Exciting Updates: Streamlining Processes and More

We’re not stopping there. Our journey towards innovation and excellence continues with significant improvements to streamline our processes. We’ve said goodbye to MI on applications, simplifying the process to make it quicker and more efficient. 

Looking Ahead

As we move forward, our focus remains on enhancing your experience and success. These achievements and updates are just the beginning. With the continued support from our brokers and our dedicated team, we’re poised to reach even greater heights in Q2.

“As we wrap up an incredible Q1 and gear up for an even more promising Q2, the strides we’ve made are not just numbers on a page—they’re a reflection of our unwavering commitment to our clients and partners. We’re not just funding loans; we’re fuelling businesses across the UK.” – Luke Jooste, CEO at Momenta Finance.

About Momenta Finance

Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.

Luke Jooste, CEO of Momenta Finance, commented “We are delighted to welcome Josh to our team. He’s not just joining us, he’s joining forces with Tom Shave and Jeremy Crinall to form a powerhouse sales team. His impressive track record, coupled with his dedication to building strong relationships, perfectly aligns with our vision. We’re excited about the impact this team will make in the SME lending space.”

Apart from Josh’s professional accolades, including the NACFB Rising Star Award in 2022, Josh is also known for his vibrant personality. An avid golfer, a passionate Arsenal FC supporter, and an aspiring yoga guru, his diverse interests add a unique flavour to our team dynamics.

At Momenta Finance, we value the blend of professional expertise and personal passions our team members bring. Josh’s dynamic approach and commitment to fostering meaningful relationships make him an invaluable asset to our team.

Welcome to the team, Josh!

Contact Josh

For brokers looking to connect with a seasoned professional who understands the nuances of the industry, Josh is the go-to person. Don’t hesitate to reach out and connect josh.hanely@momentafinance.co.uk.

About Momenta Finance

Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.

Working alongside Gemma, an Associate Director at On-Site Finance, we were able to facilitate a £200,000 Unsecured Business Loan for a prestigious London-based law firm. This collaboration underscores our dedication to providing flexible, client-centric financial solutions, enabling the firm to manage and expand its litigation portfolio.

The Challenge

Faced with the opportunity to expand their caseload but constrained by the costs of current litigation cases, the firm found itself seeking a financial solution that would enable them to navigate through this period of potential growth.

Additionally, the firm expressed a specific need for a loan structured to provide financial breathing room. A key requirement was the inclusion of an interest-only period

The Solution

In response to the firm’s unique requirements, we structured a £200,000 unsecured business loan over 36 months with a 6-month interest-only period. This financial arrangement was designed to provide the law firm with the necessary flexibility to effectively manage both current and future caseloads without the immediate financial pressure of standard loan repayments. 

The Momenta offer stood out, owing to its competitive terms, the interest-only period, in particular, provided the breathing room necessary for the firm to manage cash flow, allowing them to allocate resources more efficiently across their portfolio of cases.

About On-Site Finance

On-Site Finance serve as intermediaries between businesses seeking funding and lenders who can provide the necessary capital. OnSite play a crucial role in facilitating the financial needs of companies by connecting them with appropriate funding sources. In a dynamic and complex financial landscape, their team provide market insights, and a personalised approach to help businesses secure the funding they need to grow, innovate, or manage their operations.

This month, we’re shining the spotlight on two deals that were introduced to us by Aureum Finance, an independent finance broker that specialises in property and business finance. Wayne and Nick Kelly, Financial Consultants at Aureum Finance worked alongside our Sales Director, Tom, to find the right solution for two of their clients – a food manufacturer and digital marketing agency. Our flexible unsecured business loan was adapted to meet the needs of both clients.

Digital marketing agency expansion

A London-based digital marketing agency, aiming to broaden its services by acquiring a complementary business, faced the challenge of needing a £200,000 business loan with flexible terms. Amidst a highly competitive market with multiple offers, we were able to secure the deal based on our competitive terms. 

The Solution:

We provided Nick’s client with an unsecured business loan tailored to the agency’s needs, featuring a 60-month term without any penalties for early repayment. This financial solution empowered the agency to confidently proceed with its strategic acquisition, facilitating its expansion goals.

Managing the cash flow of a sole trade

A sole trader in Northern Ireland, leading a long-established family business in the food manufacturing industry, needed a business loan to manage cash flow and acquire stock. 

The Solution:

A £50,000 unsecured business loan over 48 months. This deal demonstrated the effectiveness of our swift application-to-funding process, highlighted by Wayne’s keen understanding of his client’s requirements. Thanks to a thoroughly prepared application, the borrower received the necessary funds within 48 hours of applying. 

Thank you to Wayne for bringing these opportunities our way. With several deals currently in our pipeline, we are looking forward to a continued partnership with Aureum Finance.

About Aureum Finance

Aureum Finance was founded in 2018 by Dean Brown, an investment manager with over 20 years experience. This experience provided access to diverse funding sources and strategies, allowing Aureum’s team to offer specialised services. Aureum Finance is an independent finance broker that specialises in all forms of property and business finance. Their team covers every sector of the market. Working with select partners, Aureum, assist with personal finance and insurance in order to provide clients with a full-service offering.

Daniela Cunningham joined us in 2014 originally as a credit underwriter, today she serves as the head of financial operations. Daniela’s analytical abilities, coupled with an unwavering commitment to ongoing learning, have played a critical role in our growth and success to date.

Jon Stern, CFO of Momenta Finance commented, “She is often the one to step in and ensure continuity, whether during a colleague’s leave or when gaps appear in the workflow”. Daniela’s proactive nature and holistic understanding of our operations has ultimately led to the formation of her current role, a synergy of underwriting, accounting, and collections.

Since our inception in 2013, we’ve watched both Daniela and the company evolve. From FCA authorisation in 2017, throughout the technological leaps with CL Originate and CL Loan and even during British Business Bank accreditation Daniela has embodied our own approach to  diverse and adaptable financial solutions.

Throughout our expansion over the last decade, Daniela has been a driving force behind significant operational enhancements. Her innovative contributions, especially in improving our loan payout processes and co-developing our CL Loan module, have been crucial in reducing risk and safeguarding our financial health. 

Daniela’s personal mantra, inspired by her father’s guidance, is that nothing is impossible with the right mindset and motivation. She champions this belief, encouraging young women in finance to take on complex challenges and advance their expertise.

Looking to the future, Daniela anticipates further integrating automation into our processes while maintaining the personal touch that distinguishes our customer service. Her strategic outlook not only aims to enhance our team and operations but also ensures we remain a pioneer in the financial industry.