New offering aims to provide accessible long-term financing options
In a significant expansion of its financial products, Bizcap, which provides swift and flexible business loans, has unveiled Bizcap Prime Loans.
This new offering aims to provide small and medium-sized enterprises (SMEs) in New Zealand with more accessible, lower-rate, long-term financing options as the financial year nears its end.
This initiative follows a surge in demand for Bizcap’s Business Line of Credit and a record-setting performance in the New Zealand market.
Tailored financing for established businesses
Bizcap Prime Loans are designed to meet the specific needs of more established businesses, providing funding up to 150% of monthly sales, which is among the highest ratios available in the market today.
Businesses can secure loans ranging from $50,000 to $2,000,000 with flexible terms of 9-12 months at rates more competitive than many traditional financing options.
To qualify, businesses must have at least a two-year trading history and a minimum Equifax credit score of 600.
Settlements can be processed in as little as three hours, enabling businesses to access needed funds without the extensive approval times typical of traditional banks.
Responding to market needs with enhanced offerings
Zalman Blachman (pictured left), co-CEO of Bizcap, commented on the launch.
“New Zealand businesses deserve more financing options that align with their needs,” Blachman said. “Our customers and advisers love the speed and flexibility we offer, and their feedback has been clear – they want even more options to support a wider range of business needs. We’re expanding our product suite to do just that, giving SMEs greater choice while still delivering the fast, accessible funding Bizcap is known for – in as little as three business hours.”
Support and training for financial advisers
The introduction of Bizcap Prime has also been accompanied by increased support for financial advisers and partners, including Business Line of Credit webinars in collaboration with major aggregators.
“The response to our education sessions has been very positive,” said Camilla Tumai (pictured right), general manager at Bizcap New Zealand. “Given the demand, we’re now offering these webinars to any adviser or financial partner looking to learn more about Bizcap’s products.”
Expanding Bizcap’s reach
Advisers and partners interested in offering Prime Loans can now express their interest or seek accreditation through Bizcap. Established in 2019, Bizcap is an alternative lender that operates in New Zealand, Australia, Singapore, and recently, the UK.
