FundOnion is building the future of SME finance with a fresh approach that focuses on transparency, matching businesses with potential lenders quickly and for free. MaxCap ranks among their top preferred lenders.
“Our brokers really enjoy dealing with the MaxCap team,” explains CEO, James Robson. “Speed is one of the main things. When we deal with MaxCap it’s an easy proposal and underwriting procedure. We can email over our customer info and get an answer back, typically the same day. It’s quick, which is great, versus some other lenders in the market where we can wait a week or more.”
This is important to FundOnion as customers in the market for short-term credit are looking for answers quickly. “Maybe they have a stock purchase that needs to happen,” says James. “Or they’re an events company and they got a big contract for a function in five weeks’ time, meaning they need to rent a venue and get all the staff on board. So speed is one element.”
The other element James cites as a notable advantage of working with MaxCap is their flexibility. Recently a FundOnion broker contacted MaxCap to go in to more detail about a potential customer who had initially been declined. James elaborates: “MaxCap was then able to take a commercial view of the case and actually went ahead and funded that business. So there is room for having a discussion about the merits of a particular case. MaxCap handles that aspect of the deal process very well.”
Recent customers who have benefitted from loans secured through FundOnion range from a logistics business to a small construction company, a large events agency, an insulation firm, a kitchen fitter and a veterinary surgery, with amounts varying from £10k to £25k through to £150k. “There were some great discussions about that larger transaction, between MaxCap and our broker team!” remarks James.
For businesses with good revenue, looking to grow and with strong reasons behind their need to borrow, FundOnion offers quick, free, no-obligation options. “We’re not going to get an ineligible credit candidate approved, but if a deal’s on a knife-edge, if it’s in a grey area, we can have a conversation about it.”
James concludes, “I guess it’s a hard thing to balance: being speedy, but also being able to have a discrete approach to the underwriting process at the same time. MaxCap is the perfect solution: quick and ready to go. It’s a win-win for all parties.”
To find out more about FundOnion please visit fundonion.com
About MaxCap
MaxCap has established itself as a leading provider of business loans for small and medium sized businesses in the UK. With a combined 30+ years of industry experience we are able to identify the requirements of each business and determine the finance that best suits their needs to thrive and grow. We work hard every day to provide small businesses with fast access to capital. Our dedication to excellence coupled with our advanced technology enables easy and accurate decision making that allows an application, approval, and funding to all take place the same day.