Lender produces guide to business loans

by Rebecca Pike06 Sep 2018

An online lender has released a free eBook to help brokers move into writing unsecured online business loans.

The ‘Guide to Online Business Loans’ is the first comprehensive guide to alternative lending produced by a fintech lender in Australia.

It was created to overcome barriers such as a lack of education and knowledge of the industry, to help brokers diversify.

The guide, produced by Spotcap, looks at the current business landscape in Australia and gives tips on how to spot opportunities in a broker or accountant’s client base. It also looks at how to begin writing simple and competitive business loans.

The company also plans to support the guide with further education in the form of webinars and workshops.

Lachlan Heussler, managing director of Spotcap Australia, said, “We are very excited to release our first eBook, which is designed to help our partners diversify and boost their own client base and revenue by offering a modern finance solution to their small and medium-sized business clients.

“Competitive pressures in the industry mean it’s harder to continue business as usual and many finance brokers now look to alternative forms of finance, such as business loans, to diversify their income sources. However, we have found one of the biggest obstacles holding them back from expanding the suite of services they offer their clients is quality education on the opportunity.

“Writing online loans is easier than many finance brokers think and it can help them strengthen relationships with their client base and demonstrate further value with the services they provide.

“Australia’s 2.2 million small and medium-sized businesses are the lifeblood of our economy but tightening credit conditions increasingly starve them of the working capital they need to operate and grow. Online business loans to these enterprises offers an exciting and effective way for brokers to break into this burgeoning market in a time-saving and stress-free way.”

Spotcap’s ‘Guide to Online Business Loans’ eBook is available for free download now at www.spotcap.com.au/ebook/