CEO Liz Syms unveiled a significant development during Connect’s 20th Anniversary Conference last Friday. This included introducing a new unsecured lending panel featuring four reputable lenders: Funding Circle, iwoca, Whiteoak, and Fleximise.
This groundbreaking unsecured lending panel is directly accessible to all Connect’s Appointed Representative (AR) members. Through a referral mechanism, Connect can secure favourable terms for other brokers.
The lending panel offers loans ranging from £5,000 to £250,000, with flexible terms of up to 5 years. Rates are competitive, starting from 1.5% per month.
Connect can aggregate the volume of cases, empowering them to negotiate preferential terms for their members. This marks a significant milestone as Connect ventures into unsecured finance for the first time.
Responding to the escalating market demand, this strategic move showcases Connect’s commitment to meeting evolving financial needs.
Unsecured lending panel | Kevin Thomson
Kevin Thomson, Connect’s sales director, provides insight into the rising demand for unsecured loans in the trading business sector. Brokers are increasingly approaching Connect with business clients seeking solutions to improve cash flow or expand their enterprises.
Connect emphasises that these four lenders were selected based on their proven track record of funding reliability and strong brand awareness. Kevin Thomson concludes by expressing confidence in the current lender lineup, stating that they are fulfilling the requirements of their members.
While there are no immediate plans to introduce additional lenders, he notes that future expansions are not ruled out, contingent on market demands and transaction volumes.
Thank you for reading our publication on, “Unsecured Lending Panel.” Stay “Connect“-ed for more updates soon!
