Partnership gives brokers more short-term loan options
Australia and New Zealand’s largest broker aggregator, LMG, has added small business lender Bizcap to its lending panel, allowing its broker network access to the non-bank’s short-term business funding products.
Bizcap provides short-term unsecured and secured loans up to $4 million, with funding in as little as three hours.
LMG Asset Finance head of operations Tim Wells (pictured above left) said Bizcap's technology and integration capabilities were key reasons for adding the non-bank lender.
“The tech ecosystem we’ve built and continue to develop, is one that delivers a seamless experience for brokers,” Wells said. “Partnering with lenders such as Bizcap, that have superior tech and integration capabilities, enables us to achieve this.”
“We’re also seeing more and more clients turning to brokers for their working capital needs. Our role is to ensure brokers have the right tools in place to entertain those conversations and introducing Bizcap solidifies our commitment to brokers in the small business lending space.
“Bizcap’s specialist team is another strength and I’m sure they’ll provide significant value to brokers and their respective SME clients.”
Bizcap chief revenue officer Rebecca Del Rio (pictured above right) said her company was thrilled to join forces with LMG, “leveraging their expansive broker network to bring open-minded funding solutions to a broader spectrum of SMEs”.
Del Rio said Bizcap’s passion for fuelling small business growth was deeply rooted in the recognition of SMEs as the backbone of the Australian economy and the cornerstones of local communities.
“In the current landscape, we understand that SMEs are grappling with unprecedented challenges — from cash flow irregularities and supply chain disruptions to the navigation of a rapidly evolving economic climate,” Del Rio said.
“Access to finance shouldn't be another hurdle for them, Bizcap aims to just make the process simple for them and provide them with the funding they need to grow. "
Del Rio said Bizcap’s team looked forward to helping LMG brokers solidify their position as the broker of choice with their SME clients, “while inviting more SMEs to experience the benefits enjoyed by our existing 18,000 satisfied customers”.
Bizcap also continues to carve out a niche in the small business market in New Zealand, and has undergone a period of rapid growth.
LMG Asset Finance recently expanded its asset finance sales team across the eastern states, welcoming Matthew Thompson, Clint Hawthorne and Daniel Scollo.
Earlier this month, LMG acquired Commercial Lending Excellence, a specialist commercial lending technology platform designed by commercial brokers for commercial brokers.
Are the SMEs you’re working with grappling unprecedented challenges? Share your thoughts below:
