Boutique aggregator Custom Equity Group has recently announced that it has added Spotcap to its lender panel.
Spotcap is an online small business lender offering credit lines of up to $250,000. Brokers who aggregate through Custom Equity Group, a finalist at this year's Australian Broking Awards, are now able to diversify into the rapidly growing SME finance market.
Custom Equity Group chairman Graham Montgomery hailed the partnership as another significant milestone for the group.
“With the increasing lending volumes that we have been consistently achieving over the past 12 months, this announcement will bring even further momentum to our new diversified lending program as we head into the second half of 2017,” Mr Montgomery said.
"With Spotcap, we can access the lowest risk-based rates in the market and be confident our brokers are giving their clients a deal that’s right for them. Flexible credit lines mean [that] broker’s clients won’t pay a single cent until they draw down on their approved funds. They’ll be able to access the funds they need, when they need them, with only a five-minute online application process and a 24-hour turnaround."
Custom’s CEO David Haythorn said that he was impressed with Spotcap’s product and service experience, saying: “Spotcap’s Customer Service Team and Partnerships Team are easy to deal with, offering great advice and answering questions in a timely manner.
"By client using Spotcap’s Partner Portal, the dashboard is simple and easy to use. The application can be completed in about five minutes, and clients can be quickly approved for a credit line. Spotcap offers us competitive rates with an easy-to-use application platform.”
[Related: Online lender surpasses $50m mark]
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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