Funding Options offers lenders access to its SME market data
CEO Simon Cureton says the launch of Funding Cloud: Insights will provide small business lenders with more detailed data on the sectors in which they operate.
Image Credit: Simon Cureton/Funding Options.
The loan marketplace Funding Options wants to give lenders a competitive advantage with exclusive access to their own market data.
Packaged as part of a feature called Funding Cloud: Insights, the company believes this will allow lenders to “understand their position relative to others, adjust products and pricing, make business decisions, and identify new opportunities.”
Simon Cureton, CEO of Funding Options, explained that lenders often lack transparency on how they compare to their peers and are unsure how to improve their product.
He added, “We wanted to provide our lending partners with more market intelligence and detailed trend data so they can evolve their lending offering and make more accurate product decisions.”
“Ultimately, the platform will empower lenders to understand the scope and demographics of both funded and unfunded businesses to make better lending decisions and close the funding gap.”
Insights is just the latest addition to the Funding Cloud platform, which allows lenders to embed their lending products directly into Funding Options, resulting in easier applications and faster decisions.
Earlier this year, Funding Options introduced Connect, which allows accountants and advisors to facilitate loan applications on behalf of their SMB clients directly in Funding Cloud.
Since becoming CEO in 2019, Cureton has led an aggressive push to diversify its Funding Options business, venturing into new areas such as energy transition and international payments for SMEs.