Over 400,000 small businesses in Australia are in need of cash flow finance, but are unable to get funding from a bank or don’t want to use assets as security.
Fortunately, thanks to one entrepreneur, the country now has its first fully independent website where anyone can easily compare and find unsecured small business loans.
The eBroker.com.au platform, aimed at small business owners and budding entrepreneurs, was launched in early August 2015.
What is eBroker doing?
The eBroker website is bringing all the leading non-bank lenders together in one place so small business owners can quickly find the most suitable unsecured business loan for their needs.
eBroker is the only platform where Australian SMEs can compare non-bank business loans from over 30 different providers and immediately get unbiased results, saving them hours of research into individual lenders. The start-up receives a customer acquisition fee if a lender is successful in providing funding to the business.
“Most small businesses don’t know how many non-bank alternative options are out there for them,” says Simon Isaacs, the founder of eBroker (pictured).
“From straightforward unsecured loans to the option of cashing in invoices and loans backed by the security of a car, boat or machinery, we want eBroker to become the first place businesses go to when looking for a capital injection from a non-bank lending solution,” he stated.
The increasing availability of unsecured business loans provides a much-needed supply of capital to small businesses where this has traditionally not existed.
“The growth of this sector has just begun with new lenders emerging every month,” says Simon. “We are committed to being 100 per cent impartial and to continually develop our platform to better match businesses with the right lenders offering the most competitive terms and interest rates.”
Small businesses will get matched to lenders from the eBroker panel of over 30 non-bank lenders that fit their needs after taking two minutes entering a few details into the website.
Why did Simon Isaacs start eBroker?
Before this, Simon had previously founded and run www.check-in.com.au from October 2001 to May 2013, the site generated over $200 million in accommodation bookings for its participating hotels during that time.
“Since Jun 2014 I was looking into various businesses and industries for my next venture,” he told Anthill about how he ended up starting eBroker.
“Changes in the global economy and the deterioration in the level of job security for employees is forcing everyone to re-focus on growing and encouraging small business and new business as the best way to deal with the futures economic challenges and opportunities.
“My aim was to find a business that helped facilitate small businesses to more easily take opportunities when they arise and to continue to grow and evolve.
“Fintech is enabling a shift in how capital is made available to businesses and is opening up the possibility of capital flow to businesses that are currently locked out of traditional bank funding.
“When I researched the web and found that there is no independent website offering a transparent aggregation of non-bank business loan lenders the bulb lit up.
“Most small businesses are not even aware that viable accessible funding alternatives are out there for them and I want eBroker to showcase these lenders transparently using the very best business loan matching tool technology.
“For me it seems critical that businesses have a platform where they can filter down to only the lenders that are applicable to their business. Saving them valuable time and allowing them the opportunity to connect with right lenders.”