Finance aggregator National Finance Choice (NFC) has added lender Moula to its approved lender panel for its broker network in a push to increase its footprint in the SME sector.
Moula - an online lending platform for small businesses - offers loans of up to $250,000. Although NFC has traditionally focused on asset finance, it has recently focused on the small and medium-enterprises (SME) segment “when it became evident that brokers were increasingly driving transactions,” Moula said.
“Australia is in the midst of a revolution with various new SME lending options being initiated in recent times,” said NFC national manager Tas Tzimos
“It is clear that Moula’s concern for small business owners is genuine and we were most impressed with the ultra-friendly platform they have built to better service this segment of the market,” he added.
Moula provides unsecured business loans based on a business’s cloud accounting and/or transaction data.
Accessing real-time financial data enables Moula to construct an accurate picture of the business that is applying for funds, said the firm’s head of broker distribution Andrew Lim. “For that reason, we can provide small businesses with a fair and responsible funding solutions, but at pace.”
The broker market will remain a key part of Moula’s long-term strategy, he added.
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