EZBob, which has lent more than £100m in funding and loans to small businesses, has secured £20m of investment to increase its lending capacity and develop its technology platforms.
Ezbob is the UK’s largest business e-lenders having provided over £80 million and over 7,000 loans to help small businesses turn opportunities … read more
Ezbob is the UK’s largest business e-lenders having provided over £80 million and over 7,000 loans to help small businesses turn opportunities into reality since 2012.
Our smart lending platform cuts through old-fashioned finance practices to offer a real-time, transparent and convenient means for UK small businesses to access business loans any time of the day, any day of the year, from anywhere in the world via mobile, PC or tablet.
We’re the only fully automated business lending platform, which means we save SMEs more time than any other provider by linking directly to a business’ relevant data to get a real-time view of how they’re performing right now – today, this hour, this minute. Because the technology does all the legwork, our application process only takes around 10 minutes to complete and lending decisions are usually made within one hour of an application being submitted. If approved, money is then paid into an account within minutes.
Limited companies, limited liability partnerships and sole traders can access £3,000 – £120,000 of working capital for up to 24 months. The typical annual cost of a loan is 16%-24% depending on an individual risk profile and the total costs and repayment schedule are made clear to customers when an offer is made. There are no fees for re-paying early and businesses can repay in part or full at any time. We’ll only ever charge interest on the outstanding loan amount and for as long as the money is borrowed.
The fast, fresh and fair way we offer loans is one of the reasons why we have such big backers. We’re the first business e-lender to be provided with a multi-million pound loan guarantee agreement by the European Union’s European Investment Fund (EIF). The UK government supported Angel Co-Fund is also an investor and we recently became Oaktree Capital Management L.P.’s first business e-lending investment in Europe