The platform www.pitch4finance.co.uk — which opened for new lender registrations last year — already has 170 active lenders, including high street and challenger banks, real estate debt funds, and non-bank property lending firms, providing loans of £25,000 upwards.
The funding marketplace matches lenders with borrowers in the property sector and aims to overcome the challenges that borrowers, intermediaries and lenders face when trying to source funding.
It only shows lenders whose criteria matches a borrower’s specific requirements and saves the borrower time navigating multiple platforms and portals to secure commercial loans or business financing — something which has become even more important during the Covid-19 crisis.
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The automated system is supported by a help desk for administrative enquiries and to assist with conversion rates, ensuring time is not wasted filtering out ineligible lenders.
So far, Pitch4Finance has generated over £108m worth of enquiries and has already enabled more than 75 borrowers seeking capital to invest in property acquisitions or refurbishments to fund their businesses and execute their growth plans.
“Pitch4Finance helps borrowers to find the best lending fit for their business growth requirements within minutes and allows lenders to efficiently find borrowers who match their lending criteria and risk profile,” explained Miranda Khadr, CEO at Pitch4Finance (pictured above).
“Our unique digital solution means that both sides save time and money, and we are excited about the role Pitch4Finance can play in providing much needed finance to SMEs, which are the engine of the UK economy.
“We hope to add more and more features to the site based on feedback from early adopters.
"We believe that, moving forward, this system allows greater transparency, faster service and a move to a sourcing tool which allows borrowers and intermediaries alike to source vast solutions across the marketplace.”
Pitch4Finance earns a percentage fee on each transaction, in addition to lenders paying a subscription to list on the site.
Octane Capital told B&C that it has just successfully completed Pitch4Finance’s first ‘Wave 1’ BTL loan from an enquiry received on the platform.
The lender managed to receive the enquiry and complete the loan within a few short weeks.
Mark Posniak, managing director at Octane Capital, commented: “We were absolutely delighted to assist here and even more so that this was completed on our new ‘Wave 1’ BTL product.
“The Pitch4Finance relationship is starting to gain some real momentum and we are thrilled to be partnering with the team for their BTL, refurbishment and bridging deals.”