Under the new initiative, businesses can request funding at a fixed price that is agreed up front, while funders will be able to offer finance with full knowledge of the return they will receive.
The firm hopes that the changes will increase the transparency of pricing and stop prices being set at a higher rate to attract funders, but bid down by competing lenders trying to secure the opportunity.
Caroline Langron, managing director of Platform Black, said: “This is a significant development in the market and will allow funders to bolster their support for UK businesses.
“The provision of fixed pricing will speed-up the whole process and provide greater certainty on both price and return, allowing funders to make informed decisions quickly.
“Fixed pricing delivers an improvement to the service we provide for funders, who will continue to support and facilitate UK business growth by securing ongoing funding.”
The new pricing is available with immediate effect for businesses seeking on average between £5,000 and £10m of funding.
The move comes just months after the firm achieved a new funding record with over £10m of funding transacted.
Platform Black has now provided a total of over £144m to SMEs.
“2016 has been a fantastic period of growth for Platform Black as we have continued to increase the funding support available to UK businesses,” Caroline added.
“Vital to our success is our ability to provide a safe and reliable outlet for funders, who have the desire to finance business, while achieving optimal returns.”
Platform Black will be renamed Sancus Finance Limited at the end of 2016.
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