Many Australian small businesses need help with cashflow, with injections of capital to help them grow and with purchases of equipment and stock to help them run their businesses. They need options. Compounding the problem, small business owners are time poor as they focus on making a go of it, so it’s difficult for them to be fully across the lending alternatives that actually do exist. They need help.
“Even a small loan can be a big help to a small business, especially if the process is simple and fast and if there is a real person helping you through it,” said Jodie Hilleary, General Manager Sales and Operations, Loanstoday. “That’s the credo of our new partner, Limba Loans and it’s why we are eager to make sure more brokers and small business owners understand that they have viable options for access to much-needed capital.”
Recognising that there is a significant opportunity for brokers to bridge the gap between SMBs and alternatives to the banks turning so many small and medium sized business borrowers away, Loanstoday is ramping up the SMB lending side of its loan and financing portal. Its partnership with Limba is a critical step in that process, as it will introduce fast, short term loan options to brokers already working with small businesses and those who wish to diversify into the small business lending space.
“What we like most about Loanstoday is that they are as much a people business as we are,” said Olly Guilleaume, National Manager – Business Lending, Limba. “Following an online application, borrowers and brokers deal with real people who take the time to understand their particular situations and applications, rather than algorithms. That’s how we operate as well.”
“Brokers, especially those diversifying into the small business lending space, need lenders and application processes that are easy to deal with, that are responsive and informative, and that specialise in loan products that are designed with small businesses in mind,” said Guilleaume. “Limba will contribute just that to the Loanstoday portal as it expands into small business lending.”
Together, Loanstoday and Limba are bringing brokers and small to medium sized businesses options outside of the traditional banking and lending institutions, so they can access the funds they need to grow and succeed.