Merchant Money unveils innovative product range

Merchant Money unveils innovative product range




Business lender Merchant Money has spoken to B&C about its flexible business loans product range, including how it typically releases funds within 24 hours.

Business lender Merchant Money has spoken to B&C about its flexible business loans product range, including how it typically releases funds within 24 hours and offers loans of up to two years.
 
The UK-based lender, which offers quick cash injections to help businesses grow, has explained why it believes its products are market-leading.
 
Along with providing loans from £1,000 - £50,000, Merchant Money offers terms of up to two years as well as charging no arrangement, settlement, upfront, or exit fees.
 
The lender also offers clients an interest-only period for the first three to four months of the loan.
 
Merchant Money’s also takes a personal guarantee from either one or two Directors, instead of securing the deal on any form of collateral.
 
Commenting on why its products stand out in the market, Jan Stefanowicz of Merchant Money said: “One of our advantages is our focus on customer service – we are up against traditional lenders, such as high street banks, which don’t demonstrate the same customer service ethic that we do - and can also talk to us immediately”.
 
Jan stated that although the lender may be more expensive than a high street bank loan, it takes a different risk profile: “…our service is more about value and service and we actually compare very favourably to an overdraft rate” he added.
 
Danny Girnun of Merchant Money added: “We don’t rely simply on credit references or traditional credit score cards, but use a variety of data points... which includes tools that interrogate social media, Trip Advisor, online transactions (EBay etc) and Google maps for example.”
 
Commenting on his experience with the lender, Mike Phelan - Director of brokerage Shire Funding said: “With their unsecured products offering terms of up to 24 months, we have a real advantage. Couple that with their ability to fund our customers within a day – We highly recommend them!”

Richard Mason of Ludgate Finance also mentioned that it has used Merchant Money’s unsecured facilities for many of its clients: “MM are very responsive, have personal contact with the client, make the effort to understand their circumstances, can fund very quickly and with repayment periods up to 24 months, we can help to bridge the funding gap”

“MM  provide unsecured facilities for many of our customers- their ability to turn deals around very quickly and fund the same day, coupled with repayment periods up to 24 months – makes the unsecured option affordable for many of our customers,” said Kevin Weaver of Quickfund Ltd, adding: “I have no hesitation in recommending MM to any commercial broker.”

Merchant Money is currently set for growth, where its six month objective includes taking its broker relationships two-to-threefold. Merchant Money has regional development directors covering London and the midlands, and has recently appointed a new executive to represent broker contacts in the North of England and Scotland.
 
“We are growing the business at a fast rate,” said Danny, adding that the lender is determined to build a long term sustainable future. “We are very well capitalised - we have the funding to become a significant lender in the UK.”
 
 Check out the product range here or follow Merchant Money on twitter or linked in.

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