Lemon teams up with Shawbrook Bank to launch innovative SaaS financing solution for SMBs

SMBs that need financing can now benefit from a new groundbreaking financing product by Lemon, Software as a Service (SaaS) finance gateway, with Shawbrook Bank.

SMB partnering with Lemon a SaaS finance gateway launches a financing product carried by Shawbrook Bank. It allows SaaS vendors to get up front payments for their subscriptions as well as allows SMB’s the option to pay them on a monthly basis which really helps cash flow and saves small businesses money on software.

After successful Beta testing of the lending feature, Lemon is proud to present this product to the market. The parties hope that such partnership will lead to greater loyalty and reduced SaaS vendors’ customer attrition as well as to more than 50% savings in the subscription costs for small and medium-sized businesses.

Philipa Pykett, who heads up digital SME growth at Shawbrook Bank, is looking forward to the new alliance as its focus is on giving small businesses the kind of purchasing power they would usually have to be a big corporation in order to attain. “We’re happy to be part of the launch of Lemon’s new and refreshing offering,” she said.

Matt Bird, Lemon’s CEO and co-founder, shared this view, pointing out that the partnership comes in response to the widening market for SaaS-centric financing that is appealing to both parties in the transaction. He noted that there will be an increase in Lemon’s functionality through the introduction of Shawbrook’s lending services which will help in reducing costs and customer attrition.

This ground breaking approach towards providing finances is set to be a game changer for many small and mid-sized businesses in controlling their SaaS expenses.