Two weeks into graded, fixed-rate loans…
On the 9th August we launched our first, graded, fixed-rate loans. The first two weeks of the system have been a success with some promising figures emerging.
On the auction-based system it took two weeks for a loan to close, now it only takes a matter of days, even hours.
Tanning Salon, a €25K, 12 month loan filled in just 1 hour 23 minutes. This was the quickest any loan has ever closed on the platform. A real sign of the speed and efficiency in which the new system operates at.
Below is an infographic that will sum up the first two weeks of the new system
What can be taken from this?
Well the two main points are speed and certainty.
The uncertain, two week process that once operated has been replaced with a much faster and certain system. Leaving business owners with a fast, reliable source of finance.