Connect launches into unsecured business lending with new panel

The panel will launch with four lenders - Funding Circle, iwoca, Whiteoak and Fleximize - and Connect says that by aggregating the volume of cases to the lenders it is able to obtain "preferential terms" for its members.

This is the first time Connect has offered unsecured finance, and the lending panel will be available direct to all Connect’s AR members and to other brokers on a referral basis.

The panel will offer loans from a minimum of £5,000 to a maximum of £250,000, available with terms of up to five years with rates from 1.5% per month.

Kevin Thomson, sales director at Connect, commented: “We have seen an increased demand for unsecured loans for trading businesses, as increasingly, brokers are coming to us with business clients who are looking to ease cashflow or expand their businesses.

“By launching our new panel, we are giving our brokers a comprehensive option of quality lenders who will lend on an unsecured basis.”