The penetration of non-banking financial institutions in recent years in the financial services market has broken its traditional conservatism. Until recently, non-bank funding was primarily associated with short-term loans to individuals. A market survey shows that non-bank lending has potential in the business sphere in Bulgaria. One of the common obstacles to medium and large companies to develop and grow is the lack of sufficient working capital. This gives a number of deals to fruition at an early stage.
Opportunities for development of this market niche are seen by the financial experts Miroslav Kamenov and Milena Alexandrova. Together, they collect best practices from lending to non-bank and bank financial institutions and adapt it through the prism of business in the new Prospect Capital project. Prospect Capital offers business lending from BGN 100,000 to BGN 1 million, especially for medium and large companies. The advantages of the company are in the individual and flexible approach to the client. The basis is the speed of the application and approval process, which the founders are proud of. This places Prospect Capital among the preferred business partners.
Fast financial decisions
At the heart of the business lending model is the client and his personal requirements towards the financial institution. Application procedures are as simple as possible to achieve optimal convenience. The company boasts its flexible approach and vision of success. “We strive to enter the customer’s shoes and solve the financial problem in the shortest possible time,” says Miroslav Kamenov , CEO of the company. Mainly the company is helping to solve the financial problems of its customers for optimal short terms. Therefore, when requesting business crediting, the customer receives an initial statement within 24 hours of submitting basic company information. The company’s financial experts believe that fast and quality service is the basis for the resulting credit transactions. In the coming years, forecasts are the most common of the company’s services to be used by businesses in the fields of agriculture, construction, services and the IT sector. In these industries, growth in demand and supply is traditionally expected and a natural increase in the need for funding.
The experience of non-bank financial institutions is still in the beginning as far as business lending is concerned. This helps Prospect Capital build its own model of work, borrowed from industry best practices, to offer a competitive service available to a wider range of companies. Prospect Capital has the solid example of MFG (Management Financial Group), a leader in non-banking financial environments. The group is well-known with successful and established companies in the niche market of financial services, and that gives Prospect Capital the confidence to take bold steps in the world of business lending. “For us, the customer’s trust is key and we do not accept compromise solutions in this direction. We are responsible and we know that it is difficult to win and only the transparency in each of our actions will help us win and hold our clients, “says Milena Alexandrova – Chief Operating Officer of the company. Innovativeness meets the experience to create an innovative business model to lend with guaranteed success.