DNA Payments, one of the UK’s largest independent payment companies, has expanded its merchant funding offering through a new partnership with one of Europe’s largest SME lenders, iwoca.

Through this partnership, DNA Payments’ clients can now easily apply for an iwoca Flexi Loan of between £1,000 and £1 million, directly from their Merchant Portal and App. The fully digital application process, with approvals typically processed within minutes, offers greater choice and flexibility to thousands of SMEs using DNA Payments.

The partnership comes amid ongoing uncertainty for UK small businesses. According to iwoca’s latest SME Expert Index, 78% of finance brokers expect supply chain disruption to negatively impact small business performance, while 70% say their SME clients are concerned about rising energy prices. Running costs have risen to the top of SMEs’ concerns, cited by 54% of brokers.

“The opportunity for UK businesses has never been greater, and we’re working hard to provide the financial services they need to realise that opportunity,” said Colin Neil, CEO of DNA Payments. “By adding term loans to our funding options, we can better support our clients when they need it most.”

"This partnership means more businesses can access funding exactly where they already are - inside the tools they use every day," said Harry Cranfield, Head of Partnerships at iwoca. "Funding should meet the needs of actually running a business. That's what every business owner goes through and accessing finance should fit around that."