Sydney-based EasyBiz Finance Pty Ltd has broken through the $1 billion milestone of loans provided to small and medium sized businesses across Australia.
Representing 39 lenders and 22 different loan products, the company is finding strong demand from business owners who are no longer prepared to be locked into the mortgaging their homes to continue funding their operations and expansion.
“We are finding a niche in the market by being creative and fully investigating the cash flows and prospects of businesses, many of which can be taken to the next level of growth with a little more financial backing,” says EasyBiz Finance founder and CEO, Dominic Lambrinos.
The company operates across three levels, with cashflow lending, as well as the financing of assets and property and always provides finance from two separate lenders.
Lambrinos has been in the finance and accounting sector for more than 20 years, having become a partner in a chartered accounting firm at 26 and leaving the profession at 34 to establish a finance and equity raising practice.
“I have developed our practice on the basis of not caring how much our clients’ houses are worth as collateral for a loan, but how good the businesses we are backing are themselves. All business people are aware of the very tough terms now imposed on them by the major banks since the GFC and they are seeking alternatives to the traditional funding route, similar to home buyers seeking new mortgage providers”, he says.
Lambrinos says EasyBiz has developed a simplified single application form for financing business loans and then finds the most appropriate lender suited to their needs and aspirations.
“I have seen many solid businesses that have struggled to gain finance or re-finance without the use of the owner’s property as collateral and providing the bank with all of their business.”
The company’s strong track record has prompted a range of local and overseas investors to also seek its help in acquiring or investing in local businesses.
Currently negotiating the acquisition of a major business, EasyBiz has facilitated the inception, or growth, of businesses like Little Brewing Company and new retailer at The Grounds in Alexandria – Salt, Meat, Cheese.
“We are finding a lot of interest from Chinese investors who wish to acquire or establish small to medium sized businesses in Australia, and we see this as a major of growth in the future,” he says.
“Many successful small to medium sized businesses are owned by baby boomers, many of whom are now looking for exit strategies, and we are providing them with potential buyers and investors.”