Personal Money Service is expanding its loan product offerings to corporate borrowers. The firm announced Monday (Dec. 5) that it is rolling out several new loan products in response to continued demand for working capital among business owners.
The lending marketplace, which connects borrowers to lenders, has introduced business revolving lines of credit, working capital financing, retail business loans, unsecured business loans and business term loans into its offerings, the firm said.
In a statement, a spokesperson for Personal Money Service said collaborating with the business borrower can help the company understand which type of financing to pursue.
“Working with the company creates better and wider opportunities for business development and prosperity,” the spokesperson said. “We have ensured each of our clients receives a professional consultancy regarding his reasons for taking the desirable loans before he actually gets one.”
“We’re doing that because we have to make sure the customer chose the right type of business loan or personal loan and will get benefits from its usage rather than even more issues,” the spokesperson continued. “In case we realize he made the wrong choice, we will offer alternative ways for their problem’s solutions.”
According to Personal Money Service, the new business loan products add onto existing offerings for corporate borrowers, including small business loans, merchant cash advances, short-term financing and others.