The portal will provide instant indicative decisions on loans between £500k and £5m.
P2P lending platform CODE Investing has launched an SME debt finance platform for commercial finance brokers and intermediaries seeking finance for their clients of up to £5m.
The portal provides a single point of contact for brokers looking to secure loans from a range of lenders. Intermediaries simply input some basic information, such as company number or name, the amount they are looking to borrow, the purpose of the loan and suggested term. Key financials are then filled in using Creditsafe and other third-party data providers via secure APIs and scans its panel of lenders to provide an instant decision. Following a positive decision brokers and Code begin the due diligence process.
“Our new broker portal is unique for finance up to £5m in that it provides brokers and intermediaries with easy access to a panel of lenders and instant decisions on whether or not their clients would be eligible for a loan,” said Tim Basford, Chief Operating Officer, CODE Investing.
“The portal will save a huge amount of time for brokers searching for potential lenders. It will also ensure that lenders are only presented with deals that are aligned with their specific commercial appetite.”
Initially, the portal is being trialled through two select brokerage partners – the Liquidity Club and A20 Finance.