A boutique aggregator has launched an online portal for self-employed borrowers that provides a range of information and options across home lending, commercial, business and asset finance.
The latest offering from growing aggregation group eChoice looks to maximise the combined benefits of fintech expertise, its broker network and partnership programs.
“The new www.selfemployedloans.com.au portal provides specialist loan and service packages for the sector and brings an aggregated offering to the market through partnerships with established industry lenders and ancillary product providers,” eChoice CEO Peter Andronicos said.
“As a digital and broker-supported service, the portal provides a ‘supermarket’ of opportunities for the growing number of self-employed borrowers to investigate their options, not only for property purposes, but also commercial, business and asset financing,” he said.
Mr Andronicos explained that as the industry changed dramatically after the GFC, the self-employed in particular were disadvantaged by the changed credit environment.
“But now, in today’s market, this expanding category of borrowers should be aware that many lenders do have a range of loans for self-employed individuals, contractors and business owners — as long as they can substantiate their income,” he said.
The eChoice boss said there has also been a significant change in the employment market over the last 10 years with more people opting to be self-employed in a move to fuel their entrepreneurial spirit, take more control of their career or achieve a better work/life balance.
“Whatever their reason, being viewed as financially unreliable is no longer synonymous with being self-employed — there’s certainly been a discernible shift. So now this service can provide a new playing field for that market to support their personal financial goals as well as their business growth,” he said.
Recent ABS statistics report over two million actively trading businesses in Australia in June 2016, showing a rise of 2.4 per cent from the previous year. Mr Andronicos said this provides a clear indicator that the number of self-employed people in Australia is increasing, with the trend not likely to change any time soon.
[Related: Self-employed borrowers paying up to 1% more]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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