The lender said the milestone has been supported by ongoing investment in its underwriting function, including the recent appointment of George Visser as chief risk officer last week.
Visser has worked alongside head of underwriting Anthony Or to refine application assessment processes.
365 Finance said it assigned at least two underwriters to review every application and can provide same-day funding of up to £500,000.
The lender said this enables SMEs across the UK to access merchant cash advance solutions quickly, helping businesses manage cash flow and fund growth opportunities.
More than half of the firm’s credit decisions are now fully automated, while a significant proportion require only light-touch reviews. According to the lender, this allows underwriters to focus on more complex cases that require greater levels of judgement.
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Or (pictured) said: “While we can automate and streamline decision-making around very standard cases, we can simultaneously dedicate more time and expertise to more complex applications, ensuring we support SMEs with a wide range of circumstances and needs.”
Or added: “Our underwriting expertise is integral to the quality and speed of service we can provide to SMEs and brokers. Same-day funding would not be possible without the team of highly skilled and experienced underwriters we have built over the past decade.
“The end goal is the same: to support the UK’s all-important SME community, delivering fast and flexible finance to alleviate cash flow challenges and enable them to seize growth opportunities.”
