- Fintech start-up, Credi, is diversifying the borrowing landscape for budding entrepreneurs and SME’s.
- SME loans through the Credi platform average 3% pa compared with unsecured commercial loans that can be over 25% pa
- Credi Founder, Tim Dean is on the cusp of launching a $1.5 million equity crowdfunding campaign to grow their existing 5,000 members and further their already $105 million worth of loans generated on the platform.
Fintech start-up, Credi, is diversifying the borrowing landscape for budding entrepreneurs who have been squeezed out of traditional lending channels by potentially business damaging high interest rates. Unlike traditional financiers that offer direct finance, Credi allows family and friends to broker loans agreements amongst themselves . Parties will negotiate and agree terms as required using Credi to manage the transaction, including if needed registering the loan on the Personal Property Securities Register.
Credi is one of the 20 and up Fintech companies offering Australians an alternative option to access cash for their start-up. Credi allows borrowers to access funds from family and friends. and has found rates offered average 3% pa , as opposed to commercially available interest rates for SME loans than can be over 20% pa
Credi Founder, Tim Dean is on the cusp of launching a $1.5 million equity crowdfunding campaign to grow their existing 5,000 members and further their already $105 million worth of loans generated on the platform.
If you’ve ever loaned a friend or family member money, either personally or for their business you are officially a branch manager of “The bank of Mum and Dad”. You are also a part of one of fast growing sources of finance for the Australian economy.
Credi.com was born out of the pressing need to help establish and manage the growing number of these loans between family members, friends and businesses. ” Relationship lending is often at rates way below that offered by banks and other lenders ”