The fully automated smart lending platform cuts through old-fashioned underwriting practices by linking directly to thousands of business data points, such as Cloud based accounting services, eBay accounts, tax reports and bank statements, to make fast and fair lending decisions based on how a business is performing right now. Because the technology does all the legwork, the application process only takes around 10 minutes to complete for new customers and lending decisions are usually made within one hour of an application being submitted. If approved, the working capital funds are then paid into the businesses bank account within minutes.
Limited companies, limited liability partnerships, partnerships and sole traders can access £3,000 - £120,000 of working capital for up to 24 months. The typical annual cost of a loan is 16%-24% depending on an individual risk profile and there are no fees for re-paying early. Interest is only ever charged on the outstanding loan amount and for as long as the money is borrowed.
Everline and ezbob are the first business e-lenders to be provided with a multi-million pound loan guarantee agreement by the European Investment Fund (EIF). The UK government supported Angel Co-Fund is also an investor and the company recently became Oaktree Capital Management L.P.’s first business e-lending investment in Europe.
Latest funding size
Time since last funding
|about 1 year|
|Angel CoFund, Oaktree Capital Management, Phenomen Ventures, Leumi Partners, Hagshama Fund|
Revenue growth (2014-15), %
Gross profit margin (2015), %
|FY, 2012||FY, 2013||FY, 2014||FY, 2015|
|£60.4 k||£1.2 m||£2.9 m||£6.6 m|
Revenue growth, %
Cost of goods sold
|£7 k||£257.6 k||£1.3 m||£5.2 m|
|£53.4 k||£988.1 k||£1.5 m||£1.4 m|
Gross profit Margin, %
Operating expense total
|£713.1 k||£2.6 m||£3.2 m||£8.9 m|