Reply To: BANK

Dear Simon,

The reasons for a client to actually obtain a facility from our platform are numerous and the price is not always the decider also it is not a fact without property collateral the client would obtain finance or a cheaper price.

A bank would

a) most likely require property collateral which we don’t require,

b)  not provide the mechanism for processing the invoices to enable a supply chain payment to occur within a 90 day cycle,

The bank’s  approval and the funding would not occur within seven days as it has here, and typically for facilities like it may not be  cheaper.

It’s good that you try to make an assumption that a bank would provide a cheaper loan but you must consider there are many other factors to be thought of when a client actually makes an application for finance and our business is successfully able to take business from banks because we offer a product and access to investors to the client.