This is the same time it takes for approved business loans to be put into their client’s account.
Nearly half (42%) of small business owners recently said that a lack of working capital was detrimental when trying to grow their business. A further 44% also said they’d experienced difficulties in the past when applying for a loan through traditional lenders. 15% said the process was too long and complicated, while 6% said the money took so long to come through that their business was compromised.
Russell Gould, COO, Ezbob, said:
“Our whole business is built around helping small businesses access funding when they need it. We know that waiting weeks or even days for finance can mean missing out on a growth opportunity – or simply survival. By making sure we pay our intermediary partners within minutes of completing a deal, we hope we’ll be able improve their cashflow and, in turn, allow them to help more small businesses access the finance they need, when they need it.
“We’re looking forward to welcoming intermediaries to our stand at the Manchester Financial Services Expo on the 20th May. If you have clients who are sole traders, limited companies or limited liability partnerships, we can show you how easy it is to access immediate funding for them, which is not only cost effective but also delivered within hours of application in many cases.”
Kathryn Tufft, Shire Funding Solutions, commented:
“Ezbob’s new automatic commission payout featureis really efficient. We now no longer need to raise commission invoices, giving us more time to focus on new incoming deals.”
