LoanTube launches SME lending platform with 50+ UK lenders

UK-based digital credit marketplace LoanTube has launched an SME brokerage platform, the firm announced today.

The platform, which has been under stealth development for two years, matches applicants to a panel of more than 50 UK lenders, including major high street banks such as Barclays, Lloyds, NatWest and Santander, and tech-driven lenders like iwoca, Funding Circle and YouLend.

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LoanTube’s 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.

It then uses this to access the most suitable loan available from its panel. The financing options on offer include unsecured business loans and revolving credit facilities to merchant cash advances.

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“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, chief executive 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”

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The new platform will be regulated by the UK’s finance watchdog, the Financial Conduct Authority.