It has processed nearly £40 million of specialist finance applications
Specialist finance solutions platform Provide Finance has reported a 60% increase in enquiries in Q1 2023, a year after its launch.
Provide has processed nearly £40 million of specialist finance applications and is growing quickly, with a 50% uplift in the number of brokers using the platform in the last six months.
Data from the platform show that the most popular form of business finance in the last 12 months has been short-term loans, accounting for 55% of all business finance enquiries. The most popular areas of specialist finance have been commercial and buy-to-let term mortgages, each accounting for 30% of all property enquiries.
Provide Finance, formerly Pitch 4 Finance, is a free-to-use platform which allows brokers to research the best lending products for their clients, submit enquiries, and make applications. It features a panel of more than 200 lenders that specialise in commercial mortgages, mortgages for residential investment properties, bridging finance, property development and refurbishments, HMO lending and business finance.
“We are really pleased by the rate at which Provide is growing,” Miranda Khadr (pictured), founder of Provide Finance, said. “The last six months, in particular, have been challenging for brokers as many lenders have contracted their lending appetite, making it harder to source the right solutions for their clients.
“Provide has developed a solution for this – giving brokers access to a much wider range of lenders than they might ordinarily consider and making it easier for them to secure the best terms on a deal. It’s also supported by our team of specialist finance experts, of course, and we’ve found that this partnership approach has been fundamental in getting deals across the line.”
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