Finance – the bugbear of entrepreneurs and small businesses. Now a new UK startup is promising to offer anyone looking for a business loan a better deal.

Wirefund, the startup in question, was founded by two entrepreneurs frustrated at the challenges they faced in securing a small business loan for a previous venture. The company launched on 11 July, 2016. It bases its business model on offering fixed term, fixed rate business loans that do not require a personal guarantee and are repaid in daily increments.

Such a system offers a number of advantages, says Hasher Marouf, co-founder of Wirefund. For one, Wirefund’s risk assessment systems make loans available to many, many more small businesses and startups than would be able to secure funding through a traditional high street bank.