Online SME lending platform Moula has announced it has joined the lender panel of aggregator PLAN Australia.
The appointment of Moula to the aggregator’s lending panel gives more than 1,600 brokers aggregating under PLAN access to the unsecured business lender.
Moula assesses and lends between $5,000 and $500,000 up to three years using its proprietary platform, with pricing starting at an annual percentage rate of 15.95 per cent applied against the outstanding loan balance. The lender said it makes decisions within 24 hours.
Commenting on the appointment of the lender, PLAN Australia CEO Anja Pannek said: “I am delighted to announce PLAN Australia’s partnership with Moula.”
“With the constantly changing needs of Australian businesses, it is more important than ever that we maintain a diversified lender panel to ensure our members can offer greater choice to suit the needs of their business clients.”
Moula CEO Aris Allegos said: “We are excited to be partnering with PLAN Australia, helping their brokers expand their service offering to meet the evolving needs of Australian businesses.”
“Moula continues to invest in education and tools to support brokers backed by awesome people who are deeply committed to our partnership.”
In January, PLAN Australia welcomed SME lender Prospa to its lender panel, enabling PLAN members to offer their clients Prospa’s small business loans and lines of credit.
Last year AFG, which has more than 3,000 brokers in its network, announced it was adding Moula to its lender panel.
[Related: Moula commits $250m in loans, updated terms]
Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.
Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.
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