This peer-to-peer lender is offering Shark Tank rejects an alternative path to funding
Australian Anthill – 7 June 2016

Peer-to-peer business lending platform for SMB, ThinCats Australia, is offering hope to those who did not make the cut on the Shark Tank program on the Ten Network.
ThinCats Australia has provided 23 loans in just over a year of operations and CEO, Sunil Aranha, is happy to use his platform to arrange loans from $50,000 to $2 million for budding entrepreneurs with currently cash flow positive businesses.
“We are providing loans for the budding entrepreneurs at a competitive interest rate of under 16 per cent, without the need for them to sell equity as required on Shark Tank,” he said
“We are targeting $20 million in loans to businesses in our second year of trading, with a projected $100 million to be lent next year. We are now seeking business people who are not interested in putting their homes on the line to fund their enterprises, as most often required by the major banks,” he added.
“There is a real opportunity for entrepreneurs who appeared on Shark Tank to use peer-to-business lending in Australia to expand their businesses and achieve their dreams.”

Bridging the gap between lenders and borrowers
The online lending platform connects wholesale investors with small and medium sized business borrowers across Australia, capturing an ‘untapped’ customer segment not well serviced by bank and non-bank financial institutions.
Lenders benefit through higher returns and diversification through fractional lending on secured loans and borrowers have access to medium and long term finance at competitive interest rates, generally between 12 per cent and 16 per cent p.a. compared with other lenders, which are charging up to 1 per cent a day for short term loans.

ThinCats has funded loans worth more than $3 million over the last year at interest rates ranging from 11.5 per cent to 15 per cent to diverse businesses, including a stone importer for the building industry, commercial solar energy systems supplier, a nutritious superfoods manufacturer, a carpet contractor and an organic coffee distributor.

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