Connect for Intermediaries has introduced a new unsecured lending panel for business loans.
The panel consists of Funding Circle, iwoca, Whiteoak and Fleximize.
The new unsecured lending panel will be available to all Connect’s Appointed Representative (AR) members to access directly, while Connect can obtain terms on behalf of other brokers on a referral basis.
The panel will offer loans from a minimum of £5,000 to a maximum of £250,000, available with terms of up to five years. Rates start from 1.5% per month.
Kevin Thomson, sales director at Connect, said: “We have seen an increased demand for unsecured loans for trading businesses, as increasingly, brokers are coming to us with business clients who are looking to ease cashflow or expand their businesses.
“By launching our new panel, we are giving our brokers a comprehensive option of quality lenders who will lend on an unsecured basis.
“In our view, these four are providing what our members want so we have no immediate plans of adding any others, but we would not rule it out if volumes dictate.”