The quiet revolution: Lender gains 220 clients in 30 days

The quiet revolution: Lender gains 220 clients in 30 days




ezbob, which is backed by the EU as the first internet lender to have a loan guarantee scheme, is exhibiting its growing strength as its lending model gains traction.

ezbob, which is backed by the EU as the first internet lender to have a loan guarantee scheme, is exhibiting its growing strength as its lending model gains traction.

ezbob’s lending business is growing rapidly. In June they had over 220 new business clients, and lending was at approximately £2.5 million.

As more intermediaries recognise the simplicity of ezbob’s online process and speed to completion, many more brokers who have not been involved in commercial lending are turning to ezbob to help clients.

Director Sharone Perlstein believes they are leading a quiet revolution to bring commercial lending to a wider intermediary base.

 He commented: “Commercial finance brokers do a great job for the UK economy. But particularly over the past few years, they have had to work very hard to find finance for clients when traditional lenders have been reluctant to lend and where the process has become cumbersome and time consuming.

He added: “However, we are finding that our facility is finding favour with a wider range of brokers, who have been attracted to the simplicity of the process and the speed with which we are able to turn around an answer and fund.”

Following the launch of its 10-minute online application process Ezbob managed to approve 350 new loans in May.

Sharone continued,: “With our approach, unnecessary paperwork is eliminated through an online application that takes 10 minutes to complete. All it then requires are clients’ VAT payment confirmations and bank statements uploaded online and a lending decision is made.

Therefore every broker can now provide access for business clients to short term finance for any purpose in most cases on the same day as application.”

As well as being backed by the EU, the lender is backed by Government’s Business Bank as a shareholder through the Angel Co-Fund.

 

 

 

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