A new small business lender, Sail Funding, has launched in Australia, combining cutting edge technology with enticing broker benefits to help grow its base and aid SME clients across the country.
The start-up uses real-time big data decision-making that offers customised lending decisions to clients. In three to five minutes, business owners can apply and receive a loan product of between $5,000 and $100,000 tailored to their needs.
With everything performed online, Sail also utilises a biometric security solution for identity verification. This automates authentication of documents and enables easier detection of forgery and counterfeiting.
“We know when a business applies for a loan, it is entrusting us with highly sensitive information. We consider it of utmost importance to ensure that the information is not only accurate, but also protected,” said Yanir Yakutiel, CEO and founder of Sail.
“Leveraging a new breed of security technology better positions us to continue supporting our customers throughout the business journey and give them the comfort that applying for a loan can be fast and secure.”
Sail is presently focused on building its network of finance brokers across the country, Yakutiel told
Australian Broker. To do this, the firm offers a competitive commission structure that rolls over with each refinancing by borrowers.
“We believe that Sail’s value proposition, for both customers and brokers, is a very attractive one. Sail deposits the full commission as soon as the loan principal is transmitted into the borrower’s account. There are no clawbacks or offsets for bad loans. Moreover, brokers that meet pre-agreed targets will receive additional rebates and incentives on top of the base commission,” he said.
As well as a service free of fees or costs for brokers, Sail provides training and supplies collateral for marketing.
“At the end of the day, we believe the best partnerships are built on trust and transparency. Brokers can feel confident their clients are being fully supported, not just throughout the loan process itself, but for the entire journey of realising their business vision,” Yakutiel said.
Related stories:
Non-bank sees surge in self-employed mortgages
Fintech hits $200 million loan milestone
Specialist lenders more attractive to SME borrowers
