The Australian business world is seeing big changes in how small and medium-sized companies get money to grow. Skyecap, a company started in 2018 by Andrew Spira, is leading this change. Unlike traditional banks, Skyecap makes it quick and easy for businesses to get loans when they need them.
Fast Decisions Through Smart Technology
Skyecap uses a special computer system called SkyeAI to look at loan applications. This system is much faster than traditional banks and can make decisions about loans in just minutes. While regular banks might take weeks to approve a loan, Skyecap can send money to approved businesses within two hours.
The company offers loans from $2,000 to $250,000, and approves 90% of all applications. This is especially helpful for businesses that need money quickly to take advantage of new opportunities or handle unexpected costs.
Making Loans Available to More Businesses
One of the best things about Skyecap is that businesses don’t need to own property to get a loan. This is very different from traditional banks, which usually ask for property as security. This means more businesses can get the money they need, whether it’s for hiring new workers, buying equipment, or advertising their products.
Many of Skyecap’s customers are businesses that banks turned away. In fact, more than 60% of Skyecap’s clients couldn’t get loans from other lenders. This shows how Skyecap is helping businesses that might otherwise struggle to get financial help.
Looking to Australia’s Future
Skyecap represents a larger concept than simply being a money lender–it aims to help build a better future for Australian businesses. Small and medium-sized businesses make up 99.8% of all businesses in Australia and give jobs to 68% of workers. In helping these businesses grow, Skyecap sees itself as helping the whole country’s economy.
Not one to remain with a sole focus, Spira’s company is also thinking about the environment. It plans to start offering special loans for green energy projects, which fits with Australia’s goal to become more environmentally friendly by 2050. Such an idea is the perfect example of how Skyecap isn’t just focused on making money–it wants to help create a better future for everyone.
As Skyecap grows bigger, its methodologies have other lenders questioning their own operations as well. Such competition is good for all business owners because it means they have more choices when they need to borrow money. With Skyecap’s success, the future looks brighter for Australian small businesses that need financial support to grow and succeed.
