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Interim Finance has credited a new business model with driving a massive increase in volumes.
The short-term lender posted an increase of 300 per cent for loans written between January and March from the previous calendar year.
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Managing director Andrew Littleford said the significant jump in loans can be attributed to the uptake of Interim’s white-label product, the state of the market and current confidence in the small-business sector.
Interim Finance unveiled its white-label product in February, allowing brokers to offer personalised short-term loans to their clients.
The generic package gives brokers complete autonomy through the loan process by letting them brand all documentation with their company logo.
The package includes the documents, templates and guidelines needed to process a streamlined and compliant short-term loan.
“Clearly, white-label is not a new concept amongst standard lending products,” Mr Littleford said, “but I would venture to say that within the short-term and bridging finance market, it is probably the first of its kind.
“Increasingly we are seeing the more aggressive broker operations seeking to build their own brand awareness in what is obviously a highly competitive market.”
Mr Littleford said the product works best for brokers who provide a full-service offering to their own client base and their referrals whose revenue stream is not “quarantined” to one particular type of deal.
“Having said that, I have always maintained that diversification is important. No question the market is hot right now. Money is cheap and a certain property euphoria exists,” he said.
“However, the music will stop in due course as it always does – having alternate income streams just makes sense.”
[Related: Astute unveils first white-label product]
