Why Alternative Lending?
The purpose behind a Business Loan is varied and, certainly in many instances, the one-size fits all approach of traditional lenders do not necessarily deliver the best fit-for-purpose product to Business Loan Seekers.
Business Loans vary substantially and include product types such as Term Loans, Secured or Unsecured Loans, Invoice Discounting, Purchase Order Finance and several other key products…and, often, the process can take a very long time.
The Alternative Lending space tends to be a faster, more efficient and effective way of securing business funds (from approved and proven lenders) without having to jump through a thousand hoops.
Simplicity = growth
“Being a new business ourselves we are fully aware of how critical it is to have reliable access to the right funds at the right time,” says Leonard. “Our deep understanding of what it takes to make a business tick – and the strength of our partner network – has helped us deliver over R100m in funding in a very short space of time.”
The need for a service like FundingHub is certainly there and with 90 deals (nearly 2 a week) and an average deal size of R320 000 after only 12 months of operations, there is certainly lots to be positive about, for all parties concerned.
“Our growth is directly related to our loan applicants’ success rate,” says Leonard. “We’ve had a good start but I think we’ve only just scratched the surface of what is possible . . . and that’s good news for everyone.”
Unsure of what type of loan is right for your current business requirement?
Use FundingHub’s free online application process to access a host of approved alternative lenders and secure the right funding for your business today.