Mortgage brokers missing out on comm business
ezbob director Sharone Perlstein said the market offers a unique opportunity for brokers as deals have become more abundant and easier to complete.
He said: “Many SME’s are using personal credit cards to provide cashflow support or to buy new equipment.
“With interest rates of between 18 and 35% pa, clearly there is a huge demand if business owners are prepared to pay the interest rates on credit cards to meet their funding needs.”
ezbob is one of the lenders that is now moving in to fill the gap left when lenders pulled out of the market following the credit crunch.
It offers funding of up to £50,000 with a lending decision within hours of an online application which takes only 10 minutes to complete.
It also offers a hefty 5% commission fee to the introducing; a factor that Perlstein thinks could be a big draw for mortgage brokers.
He said: ““What is there not to like? We provide a facility which many SME’s have been without since the credit crunch.
“The kind of temporary finance that banks would routinely offer to business clients is now available through ezbob.
“We have brokers who are not traditional commercial finance brokers doing between fifteen and twenty deals per month with us and every client has been more than happy with the ezbob service.”