Seamless Working Capital Finance, With Alek Koenig

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A lender will always want to know as much as possible about a business health before extending credit That s not changed but until recently the only data that could help in that regard was slow and expensive to produce And in turn SME loan application processes were slow and expensive to complete To make matters worse these slow and expensively-produced numbers are seldom fit for purpose even the old faithful financial reports are only a summary of what was actually happening not a deep dive into the business mechanics This is maybe why some entrepreneurs like Alek Koenig are solving the problem by circumventing financial reports and going straight to the source But the reality of Settle was I was using this accounts payable software and I just thought it was the worst product I d ever used so I was like hey why don t we just build better accounts payable software So that s when I was thinking about my background in credit and lending and thinking well if we could combine this accounts payable software with lending then we could actually make the product 10x better and actually help these businesses out In this episode we talk about consumer lending and SME lending about creating the data you need to lend against about removing friction and about transitioning from traditional credit to start-up and from employee to entrepreneur You can learn more about Settle and how to work with them on their homepage You can learn more about myself Brendan le Grange on my LinkedIn page If you have any feedback questions or if you would like to participate in the show please feel free to reach out to me at brendan howtolendmoneytostrangers show A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers Show You can also find my pulpy action-adventure novels in all their formats on Amazon Click here to visit this podcast episode