Funding Circle has launched a new application for registered introducers.
The SME lender says that now in 30 seconds, introducers are able to receive an indicative quote for their clients without leaving a credit footprint. The full application can now be completed in three steps, and on any device, halving the previous time taken to submit loan applications.
Funding Circle has streamlined the information required, and introduced next day payments, which means introducers and their clients will receive funds the day after completion. It is also now possible for introducers to set the fee charged to clients, provided another fee is not charged separately.
Laura McMullen, business development director at Funding Circle said: “Our passion is to help more small businesses access finance, so we are constantly looking for ways to improve the service we offer to our introducers. The new application takes just ten minutes to complete, so if you haven’t yet tried Funding Circle and have clients who need fast access to finance, then please get in touch or register online.”
To assess a client’s application Funding Circle requires the following, which introducers can either upload whilst logged in after submitting the application, or email directly to the credit assessment team:
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Latest full filed or formally prepared accounts
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Last 3+ months of bank statements
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If filed accounts are more than 16 months old, a full year P&L and balance sheet (management accounts, spreadsheets, accounting software reports are acceptable)
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Statement of personal assets and liabilities – if loan is £150,000 or larger