From success to success
The SPRK team has founded, developed and operated two proprietary online lending platforms for the Australian SME market during the past 6 years –
Propel
www.propellholdings.com.au
Propell uses a proprietary algorithm to cashflow assess the borrower to offer a risk priced, line of credit facility up to $100,000 to Australian SMEs.
It was publicly launched in 2015, as Kikka.com.au under a licence agreement with leading US lender, Kabbage but subsequently, all technology has been brought in-house such that it now owns and operates the end-to-end proprietary lending platform.
Radium Capital
www.radiumcapital.com.au
Radium Capital provides advance funding to Australian SMEs who are conducting eligible research & development (R&D) and are expecting a refund from the Australian Taxation Office.
Radium was developed as a result of a 2015 Australian Government review that concluded the refunds could not be provided more frequently than annually as the industry had sought.
Radium was therefore developed as an industry solution to an SME funding problem the Government wouldn’t solve.
The Government programs to provide SMEs with tax refunds for eligible R&D expenditure in UK & Australia are very similar as are the legal systems, so the SPRK team’s Australian knowledge and experience has been adapted to the UK market.
It’s a win win
For accountants
- We provide accountants with a unique value add to their clients through this smart solution.
- We deliver new clients to our SPRK Approved Advisors (SAA). Only borrowers whose R&D return is prepared by one of our SAA qualify so we refer new business to our SAAs and they refer clients to us – The SPRK virtuous circle.
For businesses
- We fund innovation where others won’t because we view security differently.
- We can increase a company’s R&D spend or reduce the need to raise more dilutionary capital.
- We reduce capital raising time. Next to capital, time is our customers’ most precious commodity.