Aggregator welcomes new lender to panel

by Madison Utley23 Aug 2019

An aggregator has partnered with a fintech lender, bringing a range of specialist lending solutions to its network of over 3,000 brokers.

Australian Finance Group (AFG) has welcomed to its panel Moula, an unsecured business lender who provides small business loans up to $500,000.

Founded in 2013, the fintech uses a proprietary platform that securely accesses customers’ financial and accounting data to enact informed and efficient decision-making.

Moula CEO Aris Allegos said, “The opportunity for AFG’s brokers to expand their offering across the SME sector is rising exponentially.

“According to the SME Growth Index, 96% of SME owners consider alternative lenders when seeking finance. They are motivated by lenders who provide a rapid approval process, offer unsecured options and are transparent on pricing.”

Moula lends as much as $500,000 for up to 36 months, with turnaround times between 24 and 48 hours. Pricing starts at 15.95% APR, a rate applied against the outstanding loan balance, with no penalty for early repayment.

Keiran Evans, GM of Commercial at AFG, yesterday welcomed Moula to the panel.

“The addition of Moula means even more lender and product choice is available to our brokers to help satisfy the growing needs of Australian SME business operators,” he said.