Quick Bridge Financial is revamping its strategy to provide working capital loans to SMEs.
The alternative lender announced Tuesday (Nov. 15) that the company is now called QuickBridge and is expanding into the direct-to-business lending sector. The company offers a platform for SMEs to access short-term working capital financing.
“We’re excited to share QuickBridge’s vision for the future with the launch of our new brand,” said the firm’s president, Ben Gold, in a statement, emphasizing that, despite the rebrand, QuickBridge will continue to operate as it has. “Rest assured, our funding process will remain fast, seamless and transparent. We will continue to build on our expertise to ensure our customers get the right loan at the right term.”
In another statement, QuickBridge Vice President Jason Oslecki pointed to the company’s ability to better service SMEs by directly lending to borrowers.
“When business owners think of QuickBridge, we want them to think of us as an extension of our team — a vital piece of the puzzle that helps them be successful,” he said. “Going direct to the customer helps us build that relationship from the start — allowing us to understand the needs of their business better and assess the true amount of working capital they need today to help them grow tomorrow.”
QuickBridge’s revamp comes at a time in the alternative lending space when players are looking to self-regulate ahead of possible action by lawmakers. Several top alt-financers have banned together to promote transparency and borrower protection for their businesses, though the agreements are unenforceable.
The industry may also be at a point of contraction, some analysts say, with a saturated market and lackluster performances of IPOs. It’s a market likely headed for consolidation in the U.S., some predict.