Short term commercial lender Ezbob has increased its maximum loan from £50,000 to £120,000 and its maximum term from 12 to 15 months.
The lender has seen its business volumes grow steadily since it launched at the beginning of last year. Funding requests can be agreed and in the client’s account within 24 hours from the time of online application.
Sharone Perlstein, Ezbob’s director, argues the changes in criteria are a logical step for a business.
He said: “We are delighted to be able to make this big step forward. In 2014 we successfully launched what is still a revolutionary online process for commercial lending. Having now had time to study how our loan book has performed, we now want to build on that experience and offer larger loans with a slightly longer term.
“The most important aspect of our service, is that advisers do not have to be experts in commercial finance to access our service and provide clients with the funding they require. With our maximum loan size now more than doubled, we are sure that more brokers will be looking to access our facility in 2015.”