Menna & Equifax UK add credit data for SME funding

SOFIAH NICHOLE SALIVIO

News Editor

Menna has partnered with Equifax UK to add commercial credit data to its AI finance assistant for small businesses, as many UK SMEs report difficulty accessing funding.

The agreement gives Menna users direct access to Equifax credit information within the software. It is intended to show business owners how lenders may assess their applications, presenting that information in plain language and highlighting factors that could affect a borrowing decision before a formal application is made.

The partnership comes at a difficult time for the small business finance market. Figures cited by the companies show the Bank of England has identified a GBP £22 billion funding gap for SMEs, while average loan acceptance rates have fallen below 50%, down from 67% before the pandemic.

Confidence among small firms has also weakened. Public data referenced by the companies shows that only 45% of SMEs felt confident a lender would approve a finance request in the final quarter of 2025, down from a peak of 66% in 2016.

Credit visibility

The integration is intended to help business owners understand the information lenders review when deciding whether to offer credit. That includes late payments, outstanding invoices, cashflow, the age of accounts, and whether company information is up to date.

By surfacing those details earlier, the system is designed to let firms address weaknesses before seeking finance, rather than discovering credit issues only after an application has been rejected.

Small businesses account for 99.8% of the UK business population, but many still struggle to understand how credit assessments are made. The partnership is launching as the UK Government gathers evidence on the barriers smaller firms face when trying to access finance.

Menna is based in the UK and focuses on credit intelligence for smaller companies. Its founders, Dan Mines and Nick Carlton, previously worked on financial products at Admiral Group and built the business around the view that many lending systems are better suited to larger organisations than to small firms.

Equifax, which operates internationally in data and analytics, is supplying the credit data used in the service. In the UK, the group provides information and risk-related products used by lenders and other organisations in decision-making.

The aim is to make the credit review process less opaque for business owners. Instead of relying on a lender’s final verdict to reveal a problem, users can see what is shaping their profile in advance and take action.

Dan Mines, Co-founder of Menna, set out the company’s view of the problem facing smaller firms.

“Small businesses should not have to wait for a loan application to be denied before understanding their creditworthiness. By combining Menna’s Agentic AI-driven insights with trusted Equifax data, we’re helping business owners understand why a bank says no, what is affecting their credit profile, and the practical steps they can take to improve how they are seen by lenders – giving them greater confidence to borrow, plan ahead and grow,” said Mines.

Wider pressure

The launch reflects a broader debate over the availability of finance for SMEs in the UK. Lending to smaller firms has been under pressure for several years, and falling approval rates have raised concerns not only about access to capital but also about whether businesses are being discouraged from applying in the first place.

That has implications beyond individual borrowers. Smaller companies make up the overwhelming majority of the business base, so a sustained drop in borrowing confidence can affect investment, hiring, and day-to-day resilience across the wider economy.

For lenders, more transparent credit information could also mean applicants come forward with a clearer sense of their financial position. The companies argue this could reduce some of the uncertainty surrounding applications, particularly for owners without specialist finance teams.

Matt Jones, VP, Partners at Equifax UK, said the issue had become as much a confidence gap as a data gap.

“Small businesses are the backbone of the UK economy, yet too many still face a confidence shortfall when it comes to seeking funding. Through our partnership with Menna, we want to help change that by democratising access to the financial and credit insights that have traditionally felt out of reach. This is about giving SMEs a clearer roadmap to funding readiness – helping them better understand the factors shaping lender decisions so they can approach borrowing with greater confidence, build resilience, and unlock future sustainable growth,” said Jones.