It takes time to shop around for the best loan rates but a start-up company, Finance Hub Jamaica Limited, aims to cut that time to about a day.
The company acts as broker between customers and lending institutions, freeing the borrower from having to negotiate for the loan.
Finance Hub founder & CEO Scott Edwards said that after spending more than a decade in banking, he recognised the need for a bridge between customers and lenders.
''Being in the industry for the past 13 years, I and my team recognised this flaw and have developed a seamless process whereby all customers can conveniently, and in far less time, attain credit to achieve their financial goals whether this goal is to acquire a motor vehicle or a home,'' he said.
The company operates mainly online, but plans to set up a physical location to capture walk-in traffic.
Edwards runs the operation, with Alicia Edwards as company secretary and banker Shauwn Gracey as mentor. The company, which has five workers, will move into its new headquarters on Constant Spring Road, Kingston, this month.
Finance Hub aims to take the hassle out of loan transactions by bringing together borrower and lender.