Finance Finder Matches Businesses with Lenders
A free online finance finder will save small businesses time and effort by matching them first time with the most appropriate lender for their needs, credit ratings agency Experian has claimed.
The company’s newly-launched SME Finance Finder pools information Experian has gathered from a variety of sources, including credit profiles, and matches applicants directly with specific brokers and lenders.
Experian claimed the tool will save businesses time researching finance options and filling out multiple applications because Experian itself will pull the relevant information together and locate the most likely source of finance. It will also make sure any lending applications are completed properly. Experian itself will receive a commission on agreed deals.
“Many small and medium-sized businesses don’t understand the full range of financing options that are available to them, and certainly don’t want to waste precious time shopping around or applying for finance that isn’t right for their needs.”
said Simon Streat, managing director of Experian’s UK SME business.
“The Finance Finder puts businesses in touch with those best suited to their requirements and maximises their chances of securing appropriate funding.”
Experian spokeswoman Serjeet Heera added that the service differed from others on the market because Experian completes the background research on behalf of the applicant.
“What other comparison sites will do is find different types of finances with the information the business puts in themselves and provides a list.”
“What we’ll do is take their details and pool all the information we have about the company and its sector. Then we’ll use that to actually match them to specific suppliers. It gives them a far, far better chance of finding finance.”
“Mainstream banks still dominate finance markets, but small businesses have always needed a range of funding options. This is even more the case now.”
“The problem has been accessing them. If this service does what it says on the tin and provides better access to a truly broad range of funders it can only be a good thing ? particularly as it’s free at the point of use.”