Brisbane-based B2B lender, Beyond Merchant Capital announced today that is opening up its business financing products to broker channels.
Focused on unique merchant financing solutions for SMEs, opening Beyond Merchant Capital’s products to broker channels will help brokers to grow their businesses and better serve their customers. This new channel also opens up additional avenues for businesses to access the cash they need without the complicated and lengthy approval processes they face in traditional financing channels.
With the dedicated support of Beyond Merchant Capital’s National Business Development Management team, the company’s business loan products are positioned to provide customers with competitive solutions as businesses increasingly opt for alternative lending channels.
According to KPMG’s 3rd Asia Pacific Alternative Finance Industry Report released in late-2018, the alternative finance market grew by 88 per cent in 2017 to $1.56 billion. Not only is this the result of the headwinds businesses face when it comes to securing finance through traditional channels, but customers are increasingly looking for the convenience that fintech offers while keeping the human element that’s lacking in some channels.
“As an alternative lender, brokers are going to be instrumental in helping us reach more customers with our business financing solutions,” said Prosser.
“What sets us apart and provides an exciting opportunity for brokers to grow their businesses is our dedicated support team and streamlined processes that will help brokers deploy more services and products.
“Not only will this help their customer’s businesses grow, but brokers have a world of opportunity at their fingertips to grow their own businesses too.”
Best suited to bricks and mortar businesses and retailers, Beyond Merchant Capital’s merchant financing solutions provide a steady ongoing revenue stream to brokers with the peace of mind that comes from dealing with a transparent and responsible lender.
About Beyond Merchant Capital’s Business Loan Solutions
Beyond Merchant Capital’s business loans are designed for SMEs providing them with loans from $5k to $500k with funding processed in as little as 24 hours. As an unsecured loan, there is no need to pledge assets and repayments are made via a unique variable repayment plan. These loans allow businesses to repay the loan in line with turnover, with no fixed term. This means that when times are slow, the borrower’s repayments are automatically lowered without attracting any fees or penalties.
With a dedicated National Business Development Management team, brokers have the option to manage each stage of the client’s application process or refer the client to Beyond Merchant Capital to complete their application.
If the client is eligible, Beyond Merchant Capital will send an offer for the broker to present to the client. Once the offer is accepted, the funds will be released in as little as 24 hours. The commission will then be transferred to the broker’s nominated business account, usually within one week of settlement.
With a flat-fee and no ongoing fees or charges to the client, Beyond Merchant Capital’s business loan solutions are a sustainable channel for brokers looking to expand their business lending products. As a result, brokers have the opportunity to earn attractive upfront revenue from a single referral with great commission rates for new loans and readvances.
To learn more about issuing Beyond Merchant Capital’s business loan products visit beyondmerchantcapital.com.au/partner-with-us. Alternatively, you can contact a Beyond Merchant Capital Relationship Manager by calling 1300 672 035 or emailing [email protected].
Speak with a lending specialist today about funding the growth of your business.