We have a commercial interest in MarketFinance. If you decide to use MarketFinance’s services, we’ll receive a referral fee from them.
Becoming a MarketFinance customer
If you take a product from MarketFinance, you will become a customer of that company. You’re then subject to its terms and conditions, which include what will happen if you’re unable to repay. This includes payment of a flat-rate fee if repayment does not occur within a specific timeframe. You should read and understand those terms and conditions.
Barclays and MarketFinance
MarketFinance asks external investors, including Barclays (“us” and “we” hereafter) to fund individual trades. We may choose to act as an investor, which means we’d receive income from this.
Once the trade is confirmed, the investors that are funding the trade will be shown to you on the MarketFinance customer portal, which may include us. This won’t affect the amount you have to pay or the amount you are charged.
MarketFinance will share information about your account and application status with us, so we can verify the correct referral fee. We might also use this information to show you personalised offers, depending on the marketing preferences you’ve chosen. More information on how Barclays shares data with MarketFinance can be accessed here.
If you have an overdraft with us, we may need to review it, and we might decide to reduce or cancel that overdraft. We'll also review any provisional lending limits.
Credit reference and fraud prevention agencies
If false or inaccurate information is provided and fraud is identified, details may be passed to credit reference and fraud prevention agencies to prevent fraud and money laundering. In order for us to consider your application, we’ll supply your (and any business partner’s) personal information to credit reference and fraud prevention agencies, and they will give us information about you, such as about your financial history. These agencies may, in turn, share your personal information with other organisations. If fraud is detected, you could be refused certain services, finance or employment. You confirm that your directors, owners or business partners are aware of how we will use their personal data.
Supporting your business during coronavirus
MarketFinance are an accredited lender under the Coronavirus Business Interruption Loan Scheme (CBILS). I understand it would be a breach of the British Business Bank’s CBILS rules for my business to obtain a CBILS Selective Invoice Discounting (SID) facility with MarketFinance if
- my business is using or applying for a facility under the Bounce Back Loan Scheme (BBLS), unless the CBILS SID facility with MarketFinance will be used to refinance the whole of the BBLS facility; or
- the CBILS SID facility with MarketFinance would result in my business exceeding the maximum aggregate facility amount permitted under the CBILS rules
For more information, please refer to the British Business Bank’s website.
Agreeing to this information
Selecting ‘I Agree’ means you are agreeing to the above disclaimers and information. You will be taken to the MarketFinance website to continue your application.