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The appointment makes BiiGGA’s product range available across Viking’s national broker network, with facilities ranging from $10,000–$500,000.
The working capital lender, which is part of the Attvest Group, provides finance to Australian businesses that have been trading for more than six months and generate at least $10,000 in monthly turnover.
Its offering includes a Merchant Cash Advance, Business Term Advance, and Line of Credit.
The Merchant Cash Advance allows repayments to be made as an agreed percentage of turnover, while the Business Term Advance uses fixed daily or weekly repayments over a set term.
The Line of Credit is available to businesses that have been trading for at least 24 months and allows borrowers to draw funds as required. Repayments are set at 2.5 per cent of the outstanding balance each week, alongside a $50 monthly facility fee.
BiiGGA said it can provide conditional approval within an hour and settle facilities within 24 hours of acceptance.
Document requirements vary depending on the size and structure of the facility, with bank statements required for facilities up to $75,000 and additional ATO information for facilities up to $150,000. Facilities above $150,000 and up to $500,000 are property-backed.
Growing broker presence
The addition to Viking’s panel comes as BiiGGA expands its presence in the broker and aggregator channel.
The lender said it has continued to expand its sales and scenario teams and now has a national BDM footprint, alongside a dedicated broker portal for scenario submissions and deal tracking.
BiiGGA chief commercial officer Lee Slattery said the lender was focused on building its broker distribution.
“Brokers are our key partners, and everything we build is built for brokers first,” Slattery said.
Viking Aggregation general manager Simon Gwynne said the lender’s addition to the panel would give brokers another option when discussing working capital with business clients.
“Our brokers are already the trusted adviser on the asset side, which puts them in the perfect position to ask the working capital question,” Gwynne said.
BiiGGA said the Viking appointment forms part of its broader expansion of its broker and aggregator channel, with further panel appointments in progress.
[Related: Inside the aggregation platform aiming to transform commercial broking]
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