"It provides brokers and intermediaries with easy access to a panel of lenders and instant decisions on whether or not their clients would be eligible for a loan."
CODE Investing has launched an SME debt finance platform for commercial finance brokers and intermediaries seeking finance for their clients of up to £5 million.
CODE’s Broker Portal will provide instant indicative decisions on loans between £500k and £5m and present lenders with applications that match their exact credit policies and eligibility criteria.
Brokers only need to supply the company number or name, the amount they are looking to borrow, the purpose of the loan and suggested term.
When brokers receive a positive decision, the CODE Investing onboarding team works with brokers and their clients to guide them through the due diligence process to completion. Progress can be tracked via MI tools throughout this period, making it effortless for brokers to provide their clients with a status update.
Initially, the portal is being trialled through two select brokerage partners – the Liquidity Club and A20 Finance.
Tim Basford, chief operating officer at CODE Investing, said: “Our new broker portal is unique for finance up to £5m in that it provides brokers and intermediaries with easy access to a panel of lenders and instant decisions on whether or not their clients would be eligible for a loan.
“The portal will save a huge amount of time for brokers searching for potential lenders. It will also ensure that lenders are only presented with deals that are aligned with their specific commercial appetite.”
David Totney, managing director at Liquidity Club, added: “CODE Investing’s new Broker Portal doesn’t just deliver instant indicative decisions, it also fills a critical gap in the market
“The P2P portals out there that are powered by this kind of tech only work for loans up to £500k, while CODE Investing is a marketplace targeted at the ‘Ms’ in SME, companies seeking larger loans of between £500k and £5m. We were highly impressed when the portal was demoed to us and are looking forward to working with CODE to get money into the market through their panel of lenders.”