Lendaly

Lendaly, an Australian business finance marketplace

Lendaly is a business finance matching platform based in Australia. Its proposition is that a business seeking funds completes a single application and gains access to the options for which it is prequalified among more than 70 lenders, both bank and non-bank. The company presents itself as the country's leading business loan marketplace and states that its matching technology is based on artificial intelligence.

The service is structured in three steps: the user answers a few questions to see prequalified loan options, compares and chooses the lender they are interested in, and receives support throughout the process until the loan is finalised. The platform states that matching is in real time and that funding can be obtained within up to 24 hours.

Available finance products

Lendaly's catalogue covers seven types of finance, with bank and non-bank lenders:

• Business Loans
• Invoice Finance
• Bridging Loans
• Business Line of Credit
• Working Capital Finance
• Asset Finance

Business profile it targets

The platform is designed for businesses of all sizes, from small main street businesses to large corporations. The criteria it states for eligibility are a minimum trading history of one year, monthly turnover above AUD 10,000, Australian headquarters, and a funding requirement of between AUD 10,000 and AUD 2 million.

Business model and transparency

Lendaly states that it charges no fees to the user and that it is remunerated only when it finds a finance option that adds value to the client, not by selling data. The company states that the compensation it receives does not influence how or where lenders appear on its site. As part of its transparency policy, it states that it does not accept payments to position products in prominent places and that it performs a soft credit check that does not affect the applicant's credit score.

Origin and team

The company presents itself as an initiative created in Australia for Australian businesses. Its origin responds to the purpose of simplifying the comparison and taking out of finance, a process that, according to its account, previously forced small business owners to fill out multiple applications. Lendaly Pty Ltd is listed as the site owner, with ACN 667 505 768 and AFCA member number 99542. The firm has its own portal, Lendaly IQ, and its leadership team includes James Coomber as Chief Operating Officer, who joined in 2019, and Tina Saa as Chief of Staff, who joined in 2022.