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Partner Insights with Jason Basseal of Loan Market

Moula Parter Insights with Jason Bassael from Loan Market

Here's a quick interview with Moula Partner Jason Basseal from Loan Market in Burwood NSW about how he has used Moula to help his clients.

What's your professional background?

I’ve been a broker since 2004; 15 years in the industry. A lot of my clients are self-employed. I work with lots of tradies, many of whom are growing their businesses. I also work with other business owners in industries like security services and bakeries.

Can you tell us about your experience using Moula?

My experience has been great. I started working with Moula and our BDM Sam Sfeir about seven months ago. Sam took the time to make sure I understood the Moula process and underwriting criteria. Since then, the process has been really easy and smooth.

What kind of clients have been a good fit for Moula?

I’ve had the most success with clients who have a good turnover and are looking for the larger amounts, such as $250k. Clients with better cash flow usually have a smoother experience.

Why would you choose Moula over another lender?

Moula is the only online business lender that I have come across that has no hidden fees and no interest penalties or early repayment fees. In my experience working with other business lenders, they’ve been all about selling and less about service. Our BDM Sam has a wealth of knowledge. He makes sure he understands the needs of the client, helps to workshop deals, and makes sure to find the right solution. Sam works directly with my new business and asset finance specialist and manages the process.

How has Moula impacted your business as a whole?

Moula has provided me with choice. They are a great option for my SME clients. In the current environment, my self-employed clients are feeling the pinch on cash flow. The ATO is going in hard and market restrictions are affecting cash flow, so they need this boost if they want to continue to grow.

Being able to provide an unsecured loan of up to $500,000 is a great solution I can provide to my clients, which further cements the relationship. I become the financial expert for that client. I have recently hired a business loan/asset finance specialist to manage the demand for SME lending. It’s been really successful.

What advice would you have for brokers looking to start using fintech lenders?

The most important thing is to understand how fintech lenders work. Don’t try to transfer the traditional home loan mentality into the business lending space. The most important thing is the solution, not necessarily the rate.

Be prepared to expand your horizons to understand what your client needs, and how you can help them to grow their business.

Author:

All the thoughts, ideas and musings from the Moula team! Covering everything from work/life balance to general finance tips plus everything in between!

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