Tide, the UK’s business banking platform, has launched a new Invoice Protection product in partnership with insurance solutions provider Hokodo, to help micro, small and medium-sized businesses protect their cash flow against the late and non-payment of invoices.

The Coronavirus crisis is having an immediate and potentially long-term impact on the UK economy, and a serious knock-on impact on SMEs. The threat of increases in late payments, non-payments and insolvencies means small businesses are being put into a precarious position, whereby an unpaid invoice or late payment could leave them facing insolvency. 

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