Starting end of November 2020 de Volksbank offers her business loans (Zakelijk Krediet) product via Fyndoo Advise. As an independent intermediary you can now apply for SNS Business Loans (Zakelijk Krediet) with help of Fyndoo Advise. Next to that advisors now also can apply an SNS Commercial Mortgage (Bedrijfshypotheek) via Fyndoo Advise. Entirely digital.
The standard for business loans
“Fyndoo Advise distinguishes itself from comparable platforms is that we, next to providing financing applications super-efficiently and accessibly, also connect an increasing number of financers directly to our financing platform. This is possible because we have an “API-first” strategy in place for the development of Fyndoo Advise. This is a standard which creates technical connections between systems. This means that financers directly receive loan applications in their financing systems, which enables them to respond to this in a swift manner.” says Jamie Burink, Businessline Manager Business Lending at Topicus.
In short, financers no longer have to enter a loan application manually in their systems. With this Topicus creates thé standard for the digital (commercial) loan application. De Volksbank is now the next financer that will receive loan applications digitally.
SNS Business Loans
With Business Loans (Zakelijk Krediet) de Volksbank, via her label SNS Bank, offers entrepreneurs a working capital facility. With this de Volksbank focuses on private contractors and SME entrepreneurs up to a maximum of 10 employees, to provide them with (extra) capacity. A business loan can be requested starting €5.000,- up to €50.000,- with a maximum of 15% of the annual turnover in the most recent accounting year. For the financing process de Volksbank internally already used Fyndoo: Topicus’ cloud-based financing platform for financial institutions. By now receiving loan applications digitally they are able to respond faster. For the entrepreneur this means that he will have access to his limit even sooner: after approval within a week already.
SNS Commercial Mortgage
The SNS Commercial Mortgage is intended for entrepreneurs who would like to acquire, renovate or re-finance a business property up to 90% of the market value. The amount that can be financed is a maximum of €1.000.000. The interest on this financing is fixed and depends on the ratio between the commercial mortgage and the value of the business property. In order to be eligible for financing above 80% of the market value, the business property needs to be sustainable (energy label C or above), or the financing needs to contribute towards making the property sustainable (towards energy label C or above). In this way de Volksbank contributes towards a sustainable world.
Platform financiering rising strongly
An altogether logical step considering our current platform-economy: platform financing. One place of offer and demand of financing for the commercial market get together. At the same time the place where the financial advisor by arrangement with his client thoroughly analyses which solution is best fit for the entrepreneur and his company. With the rising number of financiers in the financing market this will only become increasingly relevant, for example to keep an overview of all different solutions, changes in credit underwriting policies and conditions of the different providers. Here the independent business advisor increasingly gains importance: an increasing number of SMB entrepreneurs choose to get an advisor in their quest towards financing. We also see this with Fyndoo Advise. Statistics show that in 2020 so far over € 100 million in credit loan applications have been made. In there we see a strong growth: in the recent months the number of credit loan applications has went up with an average of 49%.