Ezbob, a new web-based lender revolutionising the commercial loans sector, has signed an agreement with the European Investment Fund (EIF).
This is the first internet lender to receive backing from the EIF, whose guarantee agreement will allow Ezbob to increase its lending in the UK. The commercial lender also receives backing from the UK Government’s Angel Co Fund, a shareholder in the company.
Speaking on the announcement, Tomer Guriel, one of the founders of Ezbob said, “The new partnership is a first for an internet lender like ourselves and thanks to this agreement, as well as support from day one from the UK government’s Angel Co Fund and significant new investment from investors, we are looking to extend between £250m - £500m in credit to UK SME’s over the next few years.”
Ezbob recently launched into the UK market, through a successful trial with commercial packager, Liquidity Central, offering an unsecured short-term finance facility of up to £50,000 to business owners.
Together with Co-founder, Sharone Perlstein, Tomer Guriel and his unique 100 per cent automated offering are hoping to take the UK market by storm – encouraging intermediaries with generous commission rates and seamless introduction policies.
Also speaking on the news, Sharone said: “We are aiming to work with the intermediary community in the UK, to provide the bulk of our enquiries from business. Our revolutionary system to process applications is set to change the way in which commercial loans are handled and most importantly the time in which it takes to deliver funding to SME’s.
“We can agree to a facility of up to £50000 and have cleared funds in a client’s account within 24 hours of application.”
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