Unsecured lending panel
During Connect’s 20th Anniversary Conference last Friday, CEO Liz Syms unveiled a significant development: introducing a new unsecured lending panel featuring four reputable lenders—Funding Circle, iwoca, Whiteoak, and Fleximize.
This groundbreaking unsecured lending panel is not only accessible directly to all Connect’s Appointed Representative (AR) members but also allows Connect to secure favourable terms for other brokers through a referral mechanism.
The lending panel is poised to provide loans ranging from a minimum of £5,000 to a maximum of £250,000, with flexible terms extending up to 5 years and competitive rates starting from 1.5% per month.
Connect’s ability to aggregate the volume of cases empowers them to negotiate preferential terms on behalf of their members, marking a notable milestone as Connect ventures into the realm of unsecured finance for the first time. This strategic move comes as a response to the escalating demand in the market, showcasing Connect’s commitment to meeting evolving financial needs.
Unsecured lending panel | Kevin Thomson
Kevin Thomson, featured in the image, serves as the sales director at Connect and provides insight into the rising demand for unsecured loans within the trading business sector. Brokers are increasingly approaching Connect with business clients seeking solutions to improve cash flow or expand their enterprises.
The introduction of Connect’s new panel aims to offer brokers a comprehensive range of reputable lenders willing to provide unsecured loans. This initiative is a response to the growing need in the market.
Connect emphasises that the selection of these four lenders is 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.
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