Iwoca, the international lending firm, and PayU, a leading payment service provider, have today launched an innovative collaboration aimed at making it easier for small and medium-sized (SME) entrepreneurs, particularly those in the eCommerce and eService industries, to obtain financing for growth.
The collaboration marks the first venture of this kind in the European fintech market.
The new solution enables the entire lending process to take place online. Its simplified process also allows for faster decision making. Credit approval decisions on loans of up to 20 thousand zloty are made within minutes, while applications for loans exceeding 20 thousand zloty (up to a maximum of 150 thousand zloty) take a few hours.