Code Investing launches instant decision SME loan portal
Code Investing has launched the UK’s first online broker portal to give instant indicative decisions for SME loans between £500,000 and £5 million, reports Jane Connolly.
Existing online portals have a limit of £500,000 and can take up to four hours to deliver a decision. 
Code’s Broker Portal provides a single point of contact for brokers and intermediaries, who can immediately see whether their clients match the basic credit policies and broader criteria of a panel of lenders.
After the broker has inputted basic information such as a company name or number and the desired loan amount and term, the proprietary software auto-populates key financials, using data sourced from Creditsafe and other third-party data providers via secure APIs.
The portal is initially being trialled through Liquidity Club and A20 Finance.
Tim Basford, chief operating officer at Code Investing, says: “The portal will save a huge amount of time for brokers searching for potential lenders. It will also ensure that lenders are only presented with deals that are aligned with their specific commercial appetite.”
David Totney, managing director at Liquidity Club, adds: “Code Investing’s new Broker Portal doesn’t just deliver instant indicative decisions, it also fills a critical gap in the market. The peer-to-peer (P2P) portals out there that are powered by this kind of tech only work for loans up to £500,000, while Code Investing is a marketplace targeted at the ‘Ms’ in SME.”
Once a positive indicative decision has been delivered, Code Investing’s onboarding team will assist brokers and their clients with the due diligence process to complete a loan application and progress can be easily tracked via MI tools.
