EZBOB becomes NACFB patron

The lender, which works with brokers through Liquidity Central, was recently appointed an EU financial intermediary which gives an equity stake held by the government’s Angel Co-Fund.

EZBOB plans to extend its UK lending to between £250m and £500m over the next few years.

Sharone Perlstein, co-founder and director, said: “Our proposition is a very simple one in that we lend to SME’s based on secure internet access to a client’s HMRC and business banking data in real time. We can make a decision and have cleared funds in a client’s account within hours.

“By using our online system a broker can find out if his client is qualified to receive funding by spending no more than 10 minutes on the application. Brokers can see EZBOB’s facility as a bridge allowing for ample time to secure longer term financing from traditional sources.”

EZBOB currently has an unsecured lending facility up to £50,000 over a 12 month maximum term for any business purpose.

Adam Tyler, chief executive of the NACFB, said: “EZBOB brings an unsecured bridging facility to the market which I think our members will find particularly useful.

“We like to see a new approach to the market and EZBOB’s system offers an application process that takes only minutes and does not require any paperwork gathering.

“EZBOB is harnessing internet technology to help revolutionise the underwriting process. A feature, which I feel will be welcomed by our members and their customers.”