Lending platform for SMEs launches

Lending platform for SMEs launches

An online platform giving borrowers the chance to submit loan requests to multiple lenders has been launched.

Pitch 4 Finance matches lenders with businesses in need of bespoke financial services by scrutinising the market to find the best fit.

Details of terms are then sent to the business to ensure that any subsequent deal meets with their approval.

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Miranda Khadr, founder of Pitch 4 Finance, said: "Pitch 4 is the first business lending platform to meet the needs of both the lender and the borrower, combining technology and individual underwriting to give both greater control of finance applications.

"With multiple lenders pitching for their business, borrowers have the opportunity to access funding underwritten for their specific circumstances.

"At the same time, lenders are able to control their appetite for business through the platform and can maintain a hands-on approach to underwriting.

"We think Pitch 4 is going to revolutionise the way that businesses access new funding.

"We are not looking to replace intermediaries but complement the role of professional advisers, by improving the experience and outcome of entrepreneurs who would ordinarily arrange their funding direct with a lender."

Pitch 4 Finance will be introduced in the new year, although interested lenders are invited to register free of charge now should they want to feature on the site.

Victor Sacks, IFA at VS Associates, said: "I have always been open to new business opportunities, but it is essential to know where they are coming from.

"What interest they change, what personal guarantee they require and how flexible they will be should something unexpected happen, which may alter the repayment plan. 

"If a new enterprise can offer this level of assurance and flexibility it might be worth considering."