Special Report: Following strong growth in the first half of this year AppsVillage plans to leverage its growing database by introducing a small-business lending service, with a fast-tracked loan approval process.

SaaS solutions provider AppsVillage (ASX: APV) is expanding its product offering, with the pending launch of the AppsVillage / Capital microfinance platform later this year.

The company plans to leverage its fast-growing database of small-to-medium (SME) businesses by introducing one-click microfinancing services, to be rolled out over the next 18 months.

AppsVillage now has a global database of 500,000 businesses, with more than 4,000 active subscribers to its core service – a SaaS platform that allows SMBs to create their own business app in minutes and drive customer engagement.


Best of both worlds

Through its user base, AppsVillage can drive further efficiencies in its lending platform by fast-tracking the approval process for existing customers.

“An SMB owner who creates a mobile app with our technology will be able to get financing in one-click to potentially expand their business and profitability,” CEO Max Bluvland said.

APV plans to launch its MicroLoans service in the first half of next year offering loans of between $5,000 and $50,000, subject to regulatory approval.

The company said it is currently in the “final stages of meeting its regulatory compliance requirements” for the Australian and US markets.

The service will initially be made available within Australia and the US before being rolled out more widely, the company said.

Using MicroLoans, AppsVillage customers will be able to apply for and obtain finance within 24 hours, on repayment terms of between 3 and 18 months.

The lending service will operate with a capital-light lending model, in which APV will source funds externally without taking on the associated financial risk. The company said funding will be sourced from “reputable third party financial institutions”.

In addition to its lending platform, APV also plans to roll out saving and insurance services in due course.

>> Also read: AppsVillage shares jump 45pc on ASX debut, integrates Instagram

This story was developed in collaboration with AppVillage, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.