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Loan Market has added a fintech to its panel that sources private lenders and connects brokers with them.
Loan Market has added private lending fintech and private commercial finance “facilitator” idutch to its lender panel.
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The fintech company – which was co-founded by former brokers Nathan Khoury and Brett Macartney – provides brokers with vetted private financiers who specialise in financing commercial property transactions via its online platform.
Idutch has sourced private lenders from across Australia based on their track records in the sector and ability to offer alternative lending options such as lower presales, speed-in-service and higher leverage.
Brokers can list their client’s requirements through a portal such as the loan size and pre-sale limit for a development. They can also nominate their success fee.
The portal then ranks the most suitable private lenders and facilitates an introduction.
Idutch has also developed its own proprietary technology to enable brokers to connect with private lenders, including a smart-matching engine and a deal lodgement suite.
Brokers who do not specialise in commercial lending can also use idutch through its premium feature, through which idutch will process the request while the broker still retains a referral fee.
According to Loan Market, more than 100 brokers have been accredited in the idutch system and more than $200 million in deals have been processed shortly after the fintech was launched to the Loan Market businesses and its Bring Your Own Brand (BYOB) members.
Commenting on the addition to the lender panel, Loan Market executive director Andrea McNaughton said that idutch would provide brokers with another opportunity for brokers to support their clients’ requirements.
She said: “Loan Market has always sought to add lenders to our panel who support our brokers’ offering.
“iDutch opens up opportunities for our brokers to provide alternatives to their commercial clients with unique needs.”
Mr Khoury said that he and Mr Macartney identified an opportunity to connect brokers with private lenders offering alternative finance solutions.
He said: “There is demand from borrowers to find finance solutions that enable commercial real estate acquisitions and developments, especially when lending flexibility is key to the deal happening”.
“Through idutch, we’re offering a wider breadth of finance opportunities for Loan Market’s brokers, which in turn supports their existing and future commercial clients.”
Loan Market’s panel comprises 63 lenders, including idutch, and has over 700 brokers in its network across Australia and New Zealand, with another 850 brokers trading under their own brand.
The Loan Market Group – which also includes PLAN Australia, Choice and FAST – comprises over 6,500 mortgage brokers.
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