Capiota launches online lending platform for small businesses

Capiota is disrupting the traditional lending model in the UK by making business loans of up to £50,000 available to qualified SMEs through a fully online application process. The company also announced today that it has raised a £30 million credit line to provide capital to SMEs throughout the UK.

Capiota allows merchants to apply, gain approval, and receive funding without having to step foot inside a bank. To apply for a business loan using Capiota, SME owners simply visit www.capiota.co.uk to complete an application. Capiota's innovative underwriting platform processes the application using advanced data analytics to determine business loan eligibility, provide approval and issue funding. Capiota also works closely with SME owners to design automatic repayment plans on a daily schedule rather than a typical loan which is paid monthly. Repayment plans are fully aligned with the cash flow of the business.

"Capiota's disruptive technology allows SME owners to get the funding they need without wasting valuable time completing reams of paperwork or jumping through hoops to receive approval," said Managing Director, Tony Pegg. "We are delighted to provide SMEs with a fast and efficient way to get the capital they need to help them grow their businesses."

The Capiota API will be open for select partners to integrate the online application and underwriting platform into their websites. The company is currently seeking partnerships with online websites and apps geared towards SME users, e-commerce service providers and local review sites to offer online loans to its SME user base through the Capiota platform.