Business Loans

The Invoice Market appoints Head of National Sales and Referral Partnerships

Peer-to-peer alternative financier The Invoice Market (tim) has strengthened its senior executive team with the strategic appointment of Bernie Kelly as Head of National Sales and Referral Partnerships.   Kelly comes to tim with an impressive track record of establishing financial services businesses and designing financial product solutions around the globe. Most recently he was Managing Director, International Operations for PolicyLink. In this position, Kelly grew the business, captured significant market share, and successfully negotiated exclusive strategic alliances with international asset managers, investment banks and global life companies.   In commenting on the appointment, tim CEO, Angus Sedgwick said “I’ve known and worked with Bernie over the past 25 years. […]

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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,” […]

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Jun
06

Turn debts into income

PROFITING from other people’s debts has always been popular way to make money, and investors seeking income are being given more choice than ever before. While interest rates wallow at record lows and are tipped to fall further, a new breed of peer-to-peer — or marketplace — lenders is gaining ground and other income funds are multiplying. Peer-to-peer lending — which removes middlemen such as banks and allows people to lend directly to borrowers via online platforms — is forecast to at least double in size every year for several years to come. RateSetter CEO Daniel Foggo says Australian peer-to-peer platforms funded $50 million of loans last year and that […]

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Jun
03

LendingPost closes $100m in loans – set to revolutionise small business finance

Cheaper, faster, more flexible online small business loans – that’s the winning formula that has cemented LendingPost’s position in the finance industry. In fact, LendingPost.com.au has secured over $100m in small business loans in the last 3 years alone, proving their unique online loan matching service is a faster and easier way to get small business finance compared to traditional banking options. Founded as an alternative to big business finance, Aussie-owned LendingPost burst onto the finance scene in late 2013 by directly addressing a pain point of small business owners. “We know small business owners want the best deal but just don’t have the time to research, meet and speak […]

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Jun
01

NAB eschews fintech push, keeps online business lending in-house

National Australia Bank has decided against partnering with a “fintech” company for its first automated online business lending product, ensuring a tighter grip on customers as the banks cautiously explore the burgeoning sector that threatens to eat into profits. The bank yesterday revealed QuickBiz Loan, one of the first products from in-house innovation hub NAB Labs, would be launched early this month, offering small businesses up to $50,000 unsecured via a new online application process. The move contrasts with Commonwealth Bank and Westpac, which are working on referral partnerships with business fintech lenders OnDeck and Prospa. NAB business lending division chief Angela Mentis said that while partnerships could be done […]

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Jun
01

Celebrate innovation that puts the customer in charge

It’s no secret that the word innovation is in vogue. It’s not just that it’s one of our prime minister’s favourite words, it’s a trend across the English-speaking world. Use of the word has grown steadily since 1943, according to Google’s database of books published from 1800 to 2008. It was used almost twice as much in 2008 as 1969, the year humans first landed on the moon, and it’s a dead cert the past eight years have been no different. But using “innovation” as a mantra doesn’t make you more innovative. Many people feel that it’s become, or becoming, a meaningless catchphrase. It’s time to reclaim it. It’s a […]

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May
31

FlexiGroup now funding Kikka’s business loans

FlexiGroup will become the sole funder of Kikka Capital’s business loans as emerging fintech players continue to reshape Australia’s shadow credit markets. FlexiGroup told the Australian Securities Exchange on Monday it had invested $2 million of equity into Perth-based Kikka Capital and provided it with a funding line. FlexiGroup will also use a “white label” version of Kikka’s platform to trial unsecured lending as a complementary offering to its secured asset financing operations. The deal comes less than a week after RateSetter Australia said it would start matching retail investors with business loans over its peer-to-peer platform. Meanwhile, loans by Moula are being funded by low doc lender Liberty Financial, […]

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May
26

Fintech lender Spotcap provides $11 million of finance to small businesses in first year

In just one year online lender Spotcap has issued more than $11 million of credit lines to micro, small and medium-sized businesses in Australia. Spotcap exists to address the financing needs of small businesses which often struggle to secure funding from traditional financial institutions because of their size or lack of credit history. Since launching in Australia one year ago, the business has shown an average monthly growth rate of 30 per cent. Spotcap has rapidly expanded its local presence, growing from one to 10 staff members, to meet increasing demand for alternative finance. Lachlan Heussler, Managing Director of Spotcap Australia: “Since we launched we’ve gone from strength to strength […]

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