<
p>Online short term commercial lender Ezbob is aiming to attract more mortgage brokers as the need for finance among SMEs continues to strengthen.
Ezbob is looking at adding businesses as clients as the commercial finance market is open for business. Despite longer term finance continuing to be difficult to source and then see through to completion, the same can’t be said for short term commercial finance.
Director at Ezbob, Sharone Perlstein, is appealing to every adviser whether they have commercial loan experience or not.
“We have brokers who are not traditional commercial finance brokers doing between fifteen and twenty deals per month with us and every client has been more than happy with the ezbob service,” he said.
“On top of that some of these brokers are earning some very lucrative procuration fee cheques as well.”
According to Sharone, many SMEs are using personal credit cards to provide cashflow support or to buy new equipment.
“With interest rates of between 18 and 35 per cent per annum, clearly there is a huge demand if business owners are prepared to pay the interest rates on credit cards to meet their funding needs,” he added.
“Imagine what you could do, if you were able to offer funding of up to £50000, with a yes or no within hours of an online application, which took only 10 minutes to complete.
“The client’s online banking and VAT payment data is uploaded securely and funds can usually be drawn on the same day that the online offer is made and accepted.”
Ezbob pays five per cent of the loan balance as a commission fee to introducing brokers on the day that funds are released to the client and Sharone questions brokers “what's not to like about that?”
“We provide a facility which many SMEs have been without since the credit crunch. The kind of temporary finance that banks would routinely offer to business clients is now available through ezbob.
“With lending decisions within a few hours and funds in place soon after and all without any paperwork, just a 10 minute application online and the uploading of client banking and VAT data to our secure servers.”
Online short term commercial lender Ezbob is aiming to attract more mortgage brokers as the need for finance among SMEs continues to strengthen.
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