Powered by MOMENTUM MEDIA
subscribe to our newsletter

Fintech player enters SME lending market

Australia’s SME lending marketplace has seen a new addition with the launch of a new peer-to-peer platform.

Bigstone Capital specialises in small business loans of up to $250,000, enabling borrowers to get a customised rate in less than two minutes, apply for a loan in less than 30 minutes, get a final rate in as little as 24 hours, and receive funding in as little as two days.

Boyd Pederson, CEO of Bigstone, said the platform uses new algorithms and data sources to provide additional insight to conventional lenders, including banks.

“There’s so much information available that banks simply aren’t using. Bigstone uses this data to create an honest credit assessment,” he said.

These algorithms draw on data covering a borrower’s track record, including financial trajectories and the credit profiles of company directors.

Advertisement
Advertisement

PROMOTED CONTENT


Mr Pederson said Bigstone offers investors good returns in a “low interest, high share market volatility environment”.

“We’re giving investors access to a new asset class that has traditionally only been available to large financial institutions,” he said.

[Related: Assetline expands SME offering]

Fintech player enters SME lending market
mortgagebusiness

Latest News

The IMF has urged Australia to consider reforms around housing supply and lending standards, citing apprehension around the upsurge in prope...

Treasurer Josh Frydenberg has backed the net-zero emissions by 2050 target, warning failure to comply will hurt banks’ access to capital a...

The regulator is set to release information setting out how it would use macroprudential policy tools, after expressing concerns around the ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.