Aldermore delivers sub-10 second auto-decisions for SME lending

Aldermore has announced a major upgrade to its SME lending services, now offering automatic credit decisions in under 10 seconds for a broader range of asset finance applications. The enhancement includes support for non-limited businesses and expanded automation for soft asset valuations up to £100,000.

The improvements are part of Aldermore’s ongoing digital innovation programme and apply immediately to hire purchase and finance lease agreements. Brokers can now receive near-instant decisions, allowing them to provide their SME customers with faster, more streamlined access to funding.

Key system upgrades include inclusion of sole traders and partnerships in automated credit assessments; wider tolerance ranges for underwriting metrics, increasing the number of applications eligible for rapid decisions; and expanded automated soft asset valuations.

“By expanding our auto-decisioning capability, we’re reinforcing Aldermore’s pledge to back UK SMEs with cutting-edge technology and expert support,” said Lee Rhodes, Commercial Director for Asset Finance at Aldermore.

“This change allows us to deliver more instant approvals, where they’re required, giving entrepreneurs the clarity they need to grow, without compromising on the careful credit assessment our clients rely on. Equally, these enhancements allow our people to focus their time and attention on the larger or more complex cases that require their expertise.”