Multi-award-winning asset finance specialist and Director of Asset Finance Systems, Angelo Pillai, spoke to Spotcap about the huge market opportunity available to brokers by servicing their clients with online, unsecured business loans.
In an area typically underserved by traditional lenders, the small and medium-sized business loan space is an area of huge potential for brokers looking to diversify their portfolio.
“In today’s age, diversification is very important for a successful broking business in Australia” said Angelo.
Angelo’s advice for other brokers? “I would say it’s quite important to get in touch to get to know these products, because the environment, especially in the SME space, is changing every day.”
In his opinion, Spotcap’s product is one of the most flexible and unique products on the market.
“The uniqueness is that there is no other unsecured, commercial line of credit product out there which can go up to $500,000 dollars, and let me underline, unsecured.”
Angelo added: “We had a client who runs a successful scaffolding business, and when he picked up a fairly large contract, he needed to get himself an extra $150 to $200K worth of scaffolding to turn this project around, and Spotcap was a perfect fit.”
Despite being the lifeblood of our economy representing 97% of all business, Australia’s 2.2 million small and medium-sized businesses are starved of working capital. Spotcap helps brokers diversify and future-proof their business by helping them introduce their clients to simple and smart online business loans.
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Originally published December 4 2018 , updated June 19 2019