Fintech lender for SMEs, CapitalBox, is launching a new comprehensive collateral lending programme. The secured instalment loans are designed to meet the needs of traditionally underserved European small- and medium-sized enterprises. The launch represents a significant expansion in CapitalBox’s lending offerings.
Specifically, the programme provides secured instalment loans ranging from €100,000 to €1m. In other words, investment that SMEs need to expand meaningfully, not just stay afloat. CapitalBox describes such loans as instrumental in businesses’ ability to make large-scale purchases. Examples include machinery and other assets required for entering new markets, developing new products, and meeting increased customer demand.
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The new lending product combines CapitalBox’s existing instalment loan product. One that is already popular with European small business owners, with an additional real collateral security in order to significantly lower the unrecoverable default risk. As a result, CapitalBox says that it can now present even more competitive offers. That is lending at lower APRs together with greater loan amounts to high-grade SMEs.
CapitalBox mission: to make lending as seamless as possible for SMEs
Mantvydas Štareika, CEO of CapitalBox, said: “We’ve been working towards expanding into collateral lending for some time now. This is instrumental to our commitment to helping SMEs traditionally overlooked by conventional banks. We’ve made these loans as competitive and customisable as possible. This is exactly in line with our overarching mission to make lending as seamless as possible for the SMEs we serve. I predict this will bring more types of SMEs into the CapitalBox fold. We’re ready and waiting to make their lives easier and their businesses more successful.”
CapitalBox already accepts personal guarantees as collateral. The focus of this loan product is its newly expanded acceptance of real collateral. This is most commonly in the form of industrial property, business premises, corporate mortgage and transportation, and investment assets.
CapitalBox’s says its collateral loans are competitive and flexible enough to cater to the specific needs of SMEs throughout Europe.
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