Since its launch six years ago, LoanTube, the digital credit marketplace, has focused on the consumer market. Now, branching out into the business sector, it is launching its new offering from stealth development.
LoanTube will match small and medium enterprises (SMEs) with a diverse panel of more than 50 finance providers, including major high-street banks such as Barclays, Lloyds, NatWest and Santander. SMEs can also work with tech-driven lenders, such as iwoca, Funding Circle and YouLend.
“LoanTube bringing their technology-led approach to the SME finance space is great news for underserved small businesses in a time where financial inclusivity is key,” said Harry Cranfield, head of partnerships at iwoca. “We’re excited to support their continued growth in this space and to work together in delivering smarter finance solutions to UK SMEs.”
Bringing reliability to business lending
Building on six years of proven success in their consumer-focused business, LoanTube’s extension into SME financing, following two years of development, brings an FCA-regulated option in a market where regulation is not a requirement.
Recognised for its commitment to transparency and responsible lending practices, LoanTube’s proprietary AI-powered platform, which has processed over 10,000 business loan applications to date, aggregates real-time data from Companies House, credit bureaus, lender APIs, and fraud detection tools to build a comprehensive applicant profile.
This enables the customer to access the most suitable loan on offer from its lender panel, which encompasses a broad range of financing options from unsecured business loans and revolving credit facilities to merchant cash advances. Every accepted business loan application is supported by a dedicated commercial finance broker to provide clarity, instil confidence, and ensure a seamless journey through to completion.
“Small businesses are the growth engine of our economy, yet many still struggle to access the finance they need to thrive,” said Gurprit Singh Gujral, founder and CEO of LoanTube.
“The launch of our SME brokerage is a testament to the hard work of our team, building a market-leading personal loans brokerage platform for non-prime borrowers and expanding its remit to boost financing for underserved small businesses. Where others have fallen short, we’re applying the same proven formula that transformed consumer lending to help business owners find the right lender at the right time.”
