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The SME lender has announced the launch of two new financial solutions for small businesses.
In order to address the diverse needs of small and medium-sized enterprises (SMEs), small-business lender Bizcap has launched two new financing solutions – Line of Credit and Bridging Finance.
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In addition, the lender has confirmed it has also increased its loan size to $5 million, available immediately to small-business customers.
Bizcap’s Line of Credit (still in its beta launch) offers SMEs loans of $5,000 to $300,000 with flexible repayments, allowing businesses to access varying amounts of cash at different points in time.
According to the lender, the Line of Credit can be utilised for quick stock purchases, cash flow, equipment, inventory, wages, renovations, or any other business expense.
Bizcap has confirmed that the Line of Credit will be available to brokers in late March, and they are able to register their interest in the interim.
The lender’s Bridging Finance is designed to assist SMEs looking for large sums of capital for short periods of time, from $150,000 to $5 million, in under 24 hours, with a loan term of up to 12 weeks.
SME customers may use Bizcap’s Bridging Finance to purchase new inventory of stock at a discount while they have pending invoice payments or asset settlements.
These offerings are available to brokers through both aggregators where Bizcap is on the panel or through the direct channel.
Bizcap co-founder Zalman Blachman stated that brokers who can understand and leverage the lender’s solutions “gain a competitive edge” by offering their clients “unparalleled speed and access to substantial capital with terms that are tailored to their business”.
“By incorporating Bizcap’s innovations into their toolkit, brokers not only enhance their ability to meet client needs and diversify their offering but also position themselves as strategic partners, driving success for both their clients and their own business,” Mr Blachman said.
On the Line of Credit offering, Mr Blachman commented: “With the Line of Credit, businesses gain the freedom to access funds on-demand, providing the flexibility needed to navigate the dynamic landscape of entrepreneurship.
“Bizcap is committed to supporting businesses not just survive but thrive, and the Line of Credit is a testament to this commitment.”
The small-business lender was added to LMG’s lending network in October last year, which has enabled brokers to access its short-term business funding options.
Since its inception in 2019, Bizcap has aided over 21,000 customers in Australia and New Zealand with their funding needs.
Learn more about Bizcap here.
[RELATED: LMG adds small-business lender to panel]
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