Specialist finance sourcing platform Provide Finance has seen a 60% uplift in enquiries in Q1 2023 since launching a year ago.
Provide has processed nearly £40m of specialist finance applications, and has seen a 50% increase in the number of brokers using the platform in the past six months.
Data shows that the most popular form of business finance in the past 12 months was short-term loans, accounting for 55% of all business finance enquiries.
The most popular areas of specialist finance were commercial and buy-to-let (BTL) term mortgages, each accounting for 30% of all property enquiries.
Provide Finance features a panel of more than 200 lenders that specialise in commercial mortgages, residential investment, bridging finance, property development and refurbishments, house in multiple occupation (HMO) lending and business finance.
Borrowing requirements are matched with lenders that can lend against their particular criteria, and those lenders are invited to propose terms for the loan.
Brokers can then speak directly with lenders that match their enquiry through the platform.
Miranda Khadr, founder of Provide Finance, said: “We are really pleased by the rate at which Provide is growing.
“The past six months, in particular, have been challenging for brokers as many lenders have contracted their lending appetite, making it harder to source the right solutions for their clients.
“Provide has developed a solution for this – giving brokers access to a much wider range of lenders than they might ordinarily consider and making it easier for them to secure the best terms on a deal.
“It’s also supported by our team of specialist finance experts, of course, and we’ve found that this partnership approach has been fundamental in getting deals across the line.”
