Bigstone launches fintech marketplace connecting small business borrowers with lenders
Bigstone a fintech marketplace lender has announced the launch of simple, fast and fair funding, offering the best small business loans in Australia.
Bigstone was conceived by a team of finance industry experts who saw the future of finance in the smart application of technology to cut out the banking middleman to directly connect borrowers and lenders in a safe and secure lending marketplace. With over 100 years of combined banking experience, Bigstone has taken the closely guarded lending recipes used by banks and added new sources of data and proprietary algorithms to deliver the most competitive small business lending rates in the country for creditworthy small businesses.
“Having worked in senior finance roles, we saw firsthand how hard it is for small business to get funding. Owners can spend months waiting for a response only to be told that they can only get a loan with increased fees, more paperwork and more collateral. The current system doesn’t work, and after years of listening to small business concerns, we chose to create a solution,” said Bigstone founder and CEO, Boyd Pederson.
“We want to return lending to its roots by creating a community where investors come together to fund the best opportunities while also earning a great return. There is so much information available that banks simply aren’t using Bigstone uses this data to create an honest credit assessment. We then reward borrowers for transparency; so the more information you share, the better your rate will be,” said Pederson.
Bigstone is able to offer industry leading rates whilst delivering confidence to investors by employing a unique approach to assessing risk and pricing for it. The company’s algorithms assess a borrower’s creditworthiness, reviews its track record, financial performance and trajectory, as well as the credit profiles of the directors. Each account is then reviewed to uncover patterns that machines can’t and a borrower is assigned a competitive rate between 8-24%.
Bigstone’s vision is to make access to small business finance simple, fast and fair. Bigstone is an online lending marketplace that connects small business borrowers with a world of lenders. Borrowers get the most competitive small business lending rates in the country and lenders can earn great returns, faster by investing in small business loans. Founded by senior executives from the global banking, finance and technology world, Bigstone is headquartered in Australia.
For more information visit www.bigstonecapital.com.au.