Local Loop Merseyside will be the UK's first Clearing Club, where local businesses improve their finances through sharing trading data.
We're inviting B2Bs that buy and sell in Merseyside to join our Pilot as Founding Members.
You'll get an individual estimate of how much local trading debt we could eliminate for you, insights into what this could mean for your business, and the chance to be in at the ground floor of a transformative journey for the Merseyside economy.
Get in touch
Late payment of invoices is devastating for small businesses, with tens of billions owed to them at any one time. It is a contagion that infects whole supply chains and, despite multiple efforts over many years, the problem is as bad as ever.
Tackles a serious problem for the majority of small businesses. It uses advanced technology to provide an elegant and simple solution. It provides a much cheaper and lower risk service to the alternatives, and is well beyond the state of the art.
I think that Local Loop could eradicate a lot of headaches for local businesses.
The concept is straightforward and the people leading the project have a clear and precise approach to making this work.
Very simplistic to set up and integrate with our business. We are excited to see where this goes.
The ultimate result is a reduction in the burden of late payment on the vast majority of UK SMEs, something public policy has targeted, with limited results so far - the stick. This turns the problem on its head and provides the carrot - an incentive for SMEs to work together to reduce the problem… the potential benefit to the UK is very considerable.
What Local Loop is setting out to achieve is impressive and exciting, more so because it empowers businesses themselves, their supply chains and the communities in which they trade to take proactive steps to address the issue.
I am looking forward to seeing how Local Loop develops as its a very exciting idea and I am sure it will be a great boost to SME’S in Liverpool and then across the country as it grows.
The identification and use of liquidity inherent in the invoice pool is potentially game-changing.
The impact on small businesses is clear and aligned with the mission of the company.
What a great idea!
Helping businesses get the cash flow they need to become financially independent while continuing to grow.
Sign me up!
Innovation is cutting-edge and is helping to create new markets.
Success would be a significant contribution to improving the UK economy.
We’re thrilled to see Local Loop grow and support more businesses across Merseyside.
Strengthening the local economy is vital, and we’re excited to collaborate with you in the future.
Managing cash flow and chasing late payments can be a major headache, leading to wasted time, stress, and strained business relationships.
We understand that this pain often stems from payment gridlocks - having to explain to a supplier “I can't pay because I haven't been paid”, only to find that the customers who owe you are in exactly the same situation!
These domino effects arise all the time in highly active trading networks. In fact, it's quite likely that the Merseyside businesses doing the most local trading - and contributing the most to our economy - are having the worst experience.
We think this is the wrong way round.
What we're doingWe've collaborated with DSG Chartered Accountants, DTM Legal and Hayfield Bookkeeping & Accounting to create a free guide with our best advice and tactics that you can use to help with the late payment problem, today.
We want to get to the root of this issue, so download the guide to help.
Get the guideThat's just the start though - we've got big plans.
There’s huge potential for a thriving Merseyside economy, but fear, uncertainty, and debt caused by payment gridlocks are holding us back.
We've discovered that for hundreds of years, the banks have been using powerful 'clearing' tools for dealing with payment gridlocks. Local Loop Merseyside was founded to put these tools to work for our business community, and flip the dynamics in favour of local trade.
We will help you to pay and get paid quickly, even when cash is tight. The more trade you do locally, the better this will work for you and your trading partners.
What's more, Local Loop Merseyside will be a Member-owned mutual, giving you influence over the roadmap for future services. Together, we can build the most collaborative economy in the UK.
Get in touchTell us a bit about yourself, and one of our team will be in touch to discuss whether becoming a Founding Member is for you.
David Matthews
Partner
Grace Tompkins
Partner
Dil Green
Co-Founder
Tom Woodroof
Co-Founder
Tom Newman
Partner
Ronan Murphy
Partner
