Online short term commercial lender Ezbob is using this week’s Financial Services Expo to attempt to show how easy it is to get up to £50,000 of funding for SME clients.
Its fully online service allows decisions within hours and funds transfer within 24 hours.
Sharone Perlstein, director at Ezbob, says the real challenge for the business has been to get brokers to test the service, because they have not believed that it was possible to access funding so quickly.
He said: “Once they try it they are convinced. The problem is that so many brokers have got used to long winded application processes with no real guarantee that after they have gone through the paper gathering exercise, there will actually be an offer at the end of it. So it is hardly surprising that advisers would be sceptical about our claims.
“We have put the whole process online and as a result it does not take a degree in rocket science or a long background in commercial finance for any broker to provide short term commercial finance for an SME client when they use ezbob.
“My colleague Travis and I, will be only too happy to demonstrate just how easy the process is. I can assure every broker that they will have a decision within a few hours, provided we have the information uploaded to our secure servers for assessment.
“After that, it is just a question of how long it takes for the client to agree to the terms and conditions. It is not unusual for loans to be funded on the same day.”