- SEC charges Merrill Lynch for failure to supervise RMBS traders
- Cambridge & Counties Bank to expand UK network
- Over a third of Brits think the UK will be cashless in 10 years or less, says Equifax
- Payment Systems Regulator begins discussion on how data is used in payment systems
- Bank of Ireland Group announces strategic plan and financial targets
- Goldman Sachs rolls out worldwide cyber security skills programme
- Verifone finds 29% of UK small businesses now accept payment apps at the checkout expired
- Unisys says one in three Australians willing to allow banks to share data expired
- Bank of America launches lending programme for US military veteran entrepreneurs expired
- New Crypto-mining service Argo to float on London Stock Exchange expired
- Homes close to a supermarket can boost house prices, says Lloyds expired
- MarketInvoice appoints new Chief Technology Officer expired
6th February 2015
Fleximize joins market-leading alternative business lending portal
Fleximize has announced that it has now lent £4m to SMEs since its launch in January 2014. The company has also secured access to over £5.5m in funds from investors to provide to SMEs, and it anticipates a huge increase in demand for its loans as it has joined the alternative lending portal ‘alternativebusinessfunding’ (ABF).
Fleximize estimates that around 15 per cent of the companies it has provided loans to have previously been rejected by banks. It says it can provide loans to these companies because "unlike some of the banks, it is not constrained by archaic systems or a back-book of bad debts. It is also using more efficient and fairer systems for assessing applications."
With a proven track record in the UK, and having received interest from overseas, ABF is considering plans to be the vehicle to take the thriving alternative funding sector to overseas markets – many of which lack a range of non-bank funding solutions.
Max Chmyshuk, Founder and Managing Partner at Fleximize, said: “We are seeing huge demand for our loans, and now that we have secured more funding from investors and joined ABF, we expect to see a massive increase in business."
Adam Tavener, chairman of ‘pensionledfunding’, and catalyst for the ABF collaboration said: “We are delighted to have Fleximize on board at such a critical time for the non-bank funding sector. With the UK banks starting to refer to the alternative funding market this year, we are expecting huge growth for this thriving sector.”