Leading lender of the non-banking business Develop finances today announces the launch of its new product Low Doc No Deposit Asset Finance for Tier 1 assets (cars, vans and cars).
“We created the Low Doc No Deposit Asset Finance product to relieve the burden of large upfront capital requirements that are often faced by business operators who are not backed by assets when looking for car financing. Its launch is particularly timely given the ever-increasing operating costs. In addition, the product goes hand in hand with our Low Doc Balloon Refinance product, which relieves the stress of paying large sums of money at the end of the financial term, ”said David Vershor, co-CEO, Grow.
“The new product is secured with assets and is available to both borrowers with property and non-property borrowers seeking up to $ 75,000 to finance cars, vans and cars. The no-deposit option for property owners is important because it prevents the trend of providing this style of financing only to clients who provide real estate. Thus, our goal is for the product to enable SMEs to redirect the deposit back to their business to smooth working capital and support growth, ”continued Greg Voschalsky, Co-CEO. Grow.
The Low Doc No Deposit Asset Finance product requires minimal documentation. Candidates can receive instant approval through the Grow platform, which uses sophisticated profiling, analysis and AI to evaluate the applicant in real time.
The Low Doc No Deposit Finance product is part of the development of the next generation Grow product. It was created based on consistent feedback from the industry to provide more customers with quick access to business-critical assets. Its release supports the company’s vision of being a non-banking choice for businesses and brokers a preferred partner for all SME asset financing and working capital needs.
Grow was recognized by Company №1 with the fastest growing 2021 AFR Fast 100! and was recently obtained № 1 in Australia and № 8 in the high-growth Asia-Pacific region 2022 Financial Times: high growth in the Asia-Pacific region rating.