Fintech platform helps brokers tackle business lending
A new online marketplace for business loans can help brokers tackle the growing commercial lending space.
Launched in November 2015, Valiant Finance is a comparison website which compares and matches business loans, debtor finance and equipment finance to small businesses.
But unlike other comparison websites which largely focus on home loans or personal lending, Valiant co-founder Alex Molloy said it fills a gap in the complex business lending space.
“[Small businesses] can go to their business banker – who they might have had three of in the last two years – who will ask them if they have residential security and then say they can’t help them if they don’t,” Molloy told Australian Broker.
“They could go to their broker or accountant who definitely have their best interests at heart but often don’t have access to or accreditation with the huge amount of online lenders. Then they go online and start searching themselves for online lending solutions.
“However, they will typically go to the loudest marketing voice with the largest margins on that platform and pay unreasonable interest rates, even though they might have a very healthy business.”
According to Molloy, brokers are its most important resource in helping small businesses gain access to credit. As such, it aims to be a toolkit for brokers to tackle the commercial lending market.
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Source: Fintech platform helps brokers tackle business lending – AustralianBroker