In an interview with Australian Broker, Abraham White, joint managing director and co-founder of Bizcap shed light on the pivotal role the firm plays in the SME lending landscape and the benefits of partnering with the lender.
Bizcap made its debut in the Australian market four years ago, in recognition of the prevailing gap in SME lending. White shared that traditional lenders at that time lacked the open-mindedness required to address the unique challenges faced by SMEs.
In response, Bizcap emerged as a lender that could “think outside the box” and find ways to facilitate deals when others couldn’t – and in as little as three hours.
“We fund loans anywhere from $5,000 up to $4 million in Australia,” White said.
Bizcap’s approach is marked by flexibility, helping clients who have unique financial situations.
“We can lend up to 100% of the customer’s average monthly revenue, with a secure loan, and sometimes even significantly higher than that,” White said.
Importantly, the lender doesn’t impose strict credit requirements and is ready to assist clients with complex financial histories.
“We’re happy to help clients who may even have ATO debt where sometimes ATO debt could be the cheapest form of funding for a client,” White said. “By utilising those funds and dealing with it, it can actually help with the cash flow crunch they’re having.”
Bizcap’s commitment to thinking outside the box is evident in its approach to bridge lending and flexible funding.
“We really think outside the box with bridge lending and flexible funding when clients are looking for funds for a shorter period where they need just to fill that gap. So, Bizcap can really help in those situations.”
Bizcap provides a range of benefits for brokers.
The lender’s quick approval times and the ability to fund loans ranging from $1 million to $4 million within hours or the same day make it an attractive choice.
Brokers can choose their level of involvement, from hands-on client support to a more hands-off approach.
“You can just tick and flick a name number, email to our account management team… or we give brokers a choice to work with the clients hands on and then choose their own commission rates based on the rate the loan is sold at and so on,” White said.
The flexibility Bizcap offers extends to commission rates, allowing brokers to tailor their involvement and earnings.
“We pay leading industry commissions as well as having an incredible BDM team - we’re always there to answer any questions you have, as well as offering monthly bonuses to help brokers really hit those targets.”
For a deeper understanding of Bizcap’s role in the SME lending landscape, you can watch the full interview here.
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