Ezbob targets mortgage brokers

According to Sharone Perlstein, Director at ezbob, the commercial finance market is definitely open for business and while longer term finance continues to be difficult to source and see through to successful completion, the same cannot be said for short term commercial finance.

Sharone said:

"I am appealing directly to every adviser regardless of whether they have commercial loan experience or not.  Many SMEs are using personal credit cards to provide cashflow support or to buy new equipment. With interest rates of between 18 and 35% pa, clearly there is a huge demand if business owners are prepared to pay the interest rates on credit cards to meet their funding needs.

"Imagine what you could do, if you were able to offer funding of up to £50000, with a 'yes' or 'no' within hours of an online application, which took only 10 minutes to complete. The client’s online banking and VAT payment data is uploaded securely and funds can usually be drawn on the same day that the online offer is made and accepted.”

Ezbob pays 5% of the loan balance as a commission fee to the introducing broker on the day that the funds are released to the client.
 

Sharone Perlstein added:

"What is there not to like? We provide a facility which many SMEs have been without since the credit crunch. The kind of temporary finance that banks would routinely offer to business clients is now available through ezbob. With lending decisions within a few hours and funds in place soon after and all without any paperwork, just a 10 minute application online and the uploading of client banking  and VAT data to our secure servers.

"We have brokers who are not traditional commercial finance brokers doing between fifteen and twenty deals per month with us and every client has been more than happy with the ezbob service. On top of that some of these brokers are earning some very lucrative procuration fee cheques as well.”