Lending platform boosts broker offerings with new partnership

by Mark Rosanes23 Feb 2021

Lending platform Lend.com.au has teamed up with payments gateway provider Butn to bolster its lending capabilities.

The partnership allows brokers using Lend’s loan-matching platform to access the fintech’s supply chain financing (ButnPay), advanced invoice payments (ButnX), and commission advances (ButnNow) products, which integrate with Salesforce and other cloud-based platforms.

ButnX and ButnPay are exclusively available to mortgage brokers, while ButnNow can be accessed by both brokers and real estate agents.

The fintech’s online tools use sophisticated algorithms and direct API connections to make accurate and instantaneous decisions about an applicant’s creditworthiness and provide same-day funding, regardless of the amount.

“The primary appeal of Butn’s offerings is that funding is accessible immediately after registration and offers extremely flexible terms,” said Rael Ross, co-founder of Butn. “In particular, there are no minimum or maximum amounts, no lock-in periods, nor admin or management fees. Brokers will also be able to receive advanced commissions of any amount, with the same terms and fixed flat-fee model.”

Bill Baker, chief executive officer of Lend, said that he welcomed Butn’s addition to the company’s panel of lender partners. 

“We’re delighted to have Butn onboard and expect their offering will resonate with brokers and their business clients alike,” said Baker. “We expect Butn’s funding solutions to have widespread appeal due to the speed of funding, independently of the amount required. This alleviates the universal challenge of uneven working capital, which often adversely affects operations.”

Meanwhile, Donelle Brooks, Lend’s head of third party, said that the timeliness of the new partnership was something to be lauded.

“The addition of Butn to Lend’s platform is timely based on many businesses still finding it extremely challenging to access funding, which is compounded if funds are required quickly,” said Brooks. “We’re highly supportive of solutions that remove cashflow gaps and place business owners back in the ‘driver’s seat.’ Consequently, we expect Butn’s offering to enable businesses to be more proactive, and opportunistic with their cashflow management.”