Fintech lender

A fintech lender is a lender built primarily around digital application, data-driven credit assessment and rapid decisioning, commonly used for smaller unsecured business loans, invoice finance facilities and some asset finance products where speed and a streamlined online process matter more than bespoke structuring. Assessment often draws directly on accounting software, bank transaction data or point-of-sale data rather than traditional financial statements, allowing very fast indicative decisions, sometimes within hours, on straightforward files. Fintech lenders typically operate at smaller facility sizes and shorter terms than banks or specialist funds, and are generally a better fit for a business with clean, accessible digital financial data than for a complex or larger transaction needing individual underwriting judgement. Pricing on fintech-lender facilities is usually higher than an equivalent bank product, reflecting the convenience and speed of the process and the reduced individual assessment behind it.

Related

Unsecured business loans · Invoice finance · Non-bank lender