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Big Banks Vs Fintech Lenders

One of the main reasons why Fintech (Financial Technology) lenders are winning the hearts of
business owners is their ability to offer a service that is quick, easy and without security.

Traditional lenders such as banks require pages of paperwork, they require substantial loan sizes,
they need security in the form of a home and their process often take over several months. This is
not conducive for business owners that often need to seize opportunities quickly.

BANK

  • 4-12 Weeks approval
  • Pages of paperwork and financials required
  • Security required
  • Substantial loan size
  • Low rates
  • No ATO Debt accepted
  • No defaults or adverse

FINTECH

  • Same day approval
  • Simple online form & bank statements
  • No security required
  • Minimum $10K
  • Rates are competitive to banks (based on risk)
  • ATO debt still acceptable
  • Defaults and adverse acceptable

Timing and speed are everything in today’s world of business. Historically, businesses would have to pass on opportunities such as new contracts or acquisition because they knew they would not get the finance from their bank on time. This became a barrier for growth for many business owners. Alternative lenders recognised this pain point and leveraged technology to support small to medium sized businesses.

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  • "Dedicated"

    Tao

    I was really impressed by Yuan's dedication and professionalism. One thing makes him standing out from others is he genuinely trying to help you, not only a one-way or once off sales push.

  • "Trustworthy"

    Gerald

    Yuan is a trustworthy professional who takes the time to nurture relationships and who takes his service seriously. He has strong expertise in his field and I look forward to doing more more business together.

  • "Pro-active"

    Scott

    In my dealings with Yuan I always found him to be pro-active with his dealings for our clients and his ability to help find solutions was second to none.

  • "Reliable"

    Toby

    Yuan has been a reliable source of information in the SME business lending space. He has always been very good at communicating, whether it’s discussing additional requirements, new product offerings or alternative solutions for a number of my clients. Highly recommended

  • "Memorable"

    James

    Yuan is memorable and worthwhile. I love working with Yuan as I feel a genuine passion, energy and desire for connection. Looking forward to each and every interaction with Yuan for a long time ahead!

  • "Fantastic"

    Fraser

    Yuan is fantastic to deal with and always has time for his clients. Nothing is ever too much and he will always make you feel appreciated.

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