Ezbob have increased their small business flexible loan from £50,000 to a maximum of £120,000. At the same time they’ve increased the payment period from 12 months to 15 months.
Sharone Perlstein of Ezbob told us “We are delighted to be able to make this big step forward. In 2014 we successfully launched what is still a revolutionary online process for commercial lending. Having had time to study how our loan book has performed, we now want to build on that experience and offer larger loans with a slightly longer term“.
Sharone explained that key features of Ezbob are are the speed and simplicity of the process providing clients with the funding they require at the time they need it. ezbob have received significant support from the UK Government’s Angel Co-Fund and also recently been chosen to be the first internet lender to have signed a loan guarantee agreement with the European Investment Fund (EIF), through the EU’s European Progress Microfinance Facility.
These changes open up the attractiveness of Ezbob’s service to a new tier of online retailers and other small businesses. When the flexible finance from lenders such as Ezbob first appeared on the marketplace loans were limited to a few thousand pounds, but have gradually grown to tens of thousands. Now with Ezbob offering £120,000 loads it’s a finance facility that’s also attractive to pretty large businesses and is a service that looks set to grow in 2015.