--- title: Demand for Alternative Finance Providers like 1800Approved more than Doubles description: "DATA ANALYSIS: Demand for alternative finance increased by 130% according to a study conducted by Equifax. See how alternative finance providers like 1800Approved can benefit you and your business." image: https://www.1800approved.com.au/hubfs/Alternative%20Finance%20Index.jpg --- [![1800 Approved Finance Solutions](https://www.1800approved.com.au/hubfs/Logos/1800Approved_dark.png)](https://www.1800approved.com.au) ### [**1800 277 768](tel:1800277768) #### WELCOME TO # Our blogs Our aim is to supply you with the best information that you can be confident in your knowledge when you make an application with us. # [![logo-easter-d](https://www.1800approved.com.au/hs-fs/hubfs/Easter%20Campaign%202022/logo-easter-d.png?width=268&name=logo-easter-d.png)](https://consumer.zink.com.au/v1) ### Other Posts - [COVID-19 proof your business cash flow – with a little help from the government!](https://www.1800approved.com.au/blog/covid-19-proof-your-business-cash-flow) - [$150,000 Tax-write Off — Going, Going, Gone](https://www.1800approved.com.au/blog/tax-write-off-going-going-gone) - [Current combination of events means it's the best time to buy a car](https://www.1800approved.com.au/blog/the-current-combination-of-events-means-its-the-best-time-to-buy-a-car) - [How to protect your credit score during this COVID-19 pandemic](https://www.1800approved.com.au/blog/tips-on-how-to-manage-your-business-cash-flow-0) - [Tips on how to manage your business cash flow— How the stimulus package is geared to help.](https://www.1800approved.com.au/blog/tips-on-how-to-manage-your-business-cash-flow) - [**](https://www.facebook.com/sharer/sharer.php?u=https://www.1800approved.com.au/blog/demand-alternative-finance-providers-1800approved-doubles) - [**](https://twitter.com/share?url=https://www.1800approved.com.au/blog/demand-alternative-finance-providers-1800approved-doubles) - [**](https://plus.google.com/share?url=https://www.1800approved.com.au/blog/demand-alternative-finance-providers-1800approved-doubles) - [**](https://www.linkedin.com/cws/share?url=https://www.1800approved.com.au/blog/demand-alternative-finance-providers-1800approved-doubles) - [**](http://www.youtube.com/user/?url=https://www.1800approved.com.au/blog/demand-alternative-finance-providers-1800approved-doubles) ## Demand for Alternative Finance Providers like 1800Approved more than Doubles Posted by [Rodney Michail](https://www.1800approved.com.au/blog/author/rodney-michail) on 21 May, 2018 Find me on: [LinkedIn](https://au.linkedin.com/in/rodney-michail-aa49a960) Did you know that more and more individuals and businesses now prefer alternative finance? According to a [data analysis](https://www.equifax.com.au/sites/default/files/Alternative-Finance-Infographic.pdf) performed by Equifax, demand for alternative finance increased 130% in H2 2017, compared with the same period in 2016. Alternative finance is classified by Equifax as a new lending category that leverage online technology and various data sources to make pricing and loan approval decisions like what we do here at 1800Approved. The increase in demand is not surprising since consumers and businesses now realise the benefits and convenience of using alternative finance. Imagine having a finance expert doing all the heavy lifting while you wait at the comfort of your own home or while you do "business as usual" at work? Alternative finance providers saves you time, money, and effort. What usually takes days or even weeks to accomplish now only takes hours because of the technology and partnerships being utilised. **Consumers** According to the study, millenials account to 62% of the inquiries in H2 2017 while 12% belongs to the Gen X-ers. This shows how comfortable millenials are in using technology in their transactions but the older generations are following suit. Further growth in the industry is expected as consumers and businesses get more familiar with alternative finance. Increase in consumers Demand per State WA - +150% VIC - +143% QLD - +139% NSW - +128% ![Consumer Demand - Alternative Finance](https://www.1800approved.com.au/hs-fs/hubfs/Consumer%20Demand%20-%20Alternative%20Finance.png?width=731&name=Consumer%20Demand%20-%20Alternative%20Finance.png)**Commercial** SMEs are also making the transition from traditional finance to alterative fnance. SMEs account to 98.8% of commercial inquiries in 2017. Increase in commercial demand per state WA - +70% VIC - +70% NSW - +67% QLD - +66% The study also shows that businesses between 1-19 years old are more likely to utilize alternative finance than those that have been in business for more than 20 years. This is probably because of the relationships built between the business and the traditional lender. 1-19 years in business - +92.5% 20 years and older - +7.1% ![Commercial Demand - Alternative Finance](https://www.1800approved.com.au/hs-fs/hubfs/Commercial%20Demand%20-%20Alternative%20Finance.jpg?width=731&name=Commercial%20Demand%20-%20Alternative%20Finance.jpg) The demand for alternative finance is expected to grow year after year as well as the demand for more efficient services from providers like [1800Approved](https://www.1800approved.com.au/) Finance Solutions. Efficiency and better service has become the driving force of our business. We've seen the growth in demand and we are eager to match it with better technology and better service. For all your financing needs contact us at 1800277768 or fill out the [form](https://www.1800approved.com.au/#quote-form). *All statistics quoted are based on Equifax data analysis completed in March 2018 Topics: [Alternative Finance](https://www.1800approved.com.au/blog/topic/alternative-finance) [![1800Approved_dark](https://www.1800approved.com.au/hubfs/Logos/1800Approved_dark.png "1800Approved_dark")](https://www.1800approved.com.au/new) #### join our newsletter Keep up with the latest tips #### Financial Services #### Company #### Resources 2008-2026 © Ausloans Pty Ltd Australian Credit Licence # 383 999 - [**](https://twitter.com/1800Approved) - [**](https://www.youtube.com/user/1800approved) - [**](https://www.facebook.com/1800Approved) - [**](https://www.linkedin.com/company/1800approved-finance-solutions) - [**](https://plus.google.com/+1800approvedAu) ![](https://www.facebook.com/tr?id=2099318183729557&ev=PageView&noscript=1) ![](https://www.facebook.com/tr?id=759887617369365&ev=PageView&noscript=1) ![](https://www.facebook.com/tr?id=122106498438777&ev=PageView&noscript=1) ![](https://bat.bing.com/action/0?ti=5128956&Ver=2) [![ClickCease](https://monitor.clickcease.com/stats/stats.aspx)](https://www.clickcease.com) ```json { "@context" : "http://www.schema.org", "@type" : "FinancialService", "address" : { "@type" : "PostalAddress", "addressCountry" : "Australia", "addressLocality" : "Gold Coast", "addressRegion" : "Queensland", "postOfficeBoxNumber" : "4214", "postalCode" : "4214", "streetAddress" : "33 Ereton Dr. Arundel" }, "aggregateRating" : { "@type" : "aggregateRating", "ratingValue" : "4.6", "reviewCount" : "233" }, "areaServed" : "Queensland, New South Wales, Victoria, South Australia, Tasmania, Australian Capital Territory, Northern Territory, Western Australia, Sydney, Perth, Melbourne, Hobart, Darwin, Brisbane, Adelaide, Gold Coast, Canberra, Newcastle, Wollongong, Logan City, Townsville, Geelong, Sunshine Coast, Cairns and Albury/Wodonga", "award" : "Australian Broking Awards - Asset Finance Broker of the Year 2016", "brand" : { "@type" : "Organization", "name" : "1800Approved Finance Solutions" }, "contactPoint" : { "@type" : "ContactPoint", "contactType" : "customer service", "telephone" : "1800277768" }, "description" : "A leading motor vehicle finance broker in Australia since 2008. Winner of the 2016 Asset Finance Broker of the Year. We specialize in car loans, truck finance, business loans, equipment loans & other finance services.", "email" : "sales@1800approved.com.au", "faxnumber" : "1300852884", "founders" : { "@type" : "person", "name" : "Rodney Michail" }, "geo" : { "@type" : "GeoCoordinates", "latitude" : "-27.937302", "longitude" : "153.38525" }, "hasMap" : "https://www.google.com.ph/maps/place/1800+Approved+Finance+Solutions/@-27.937302,153.38525,15z/data=!4m5!3m4!1s0x0:0xecb753a025b02065!8m2!3d-27.937302!4d153.38525", "image" : "https://www.1800approved.com.au/hubfs/blog/1800%20Approved%20Finance%20Solutions.jpg", "logo" : "https://www.1800approved.com.au/hs-fs/hubfs/1800approved-logo-1.png?t=1492472876793&width=250&name=1800approved-logo-1.png", "memberOf" : { "@type" : "Organization", "name" : "Finance Brokers Association of Australia" }, "name" : "Motor Vehicle Finance", "openingHours" : "Mo, Tu, We, Th, Fr, Sa 08:30-17:30", "sameAs" : [ "https://www.facebook.com/1800Approved", "https://twitter.com/1800Approved", "https://plus.google.com/+1800approvedAu", "https://www.youtube.com/user/1800approved", "https://www.linkedin.com/company/1800approved-finance-solutions" ], "telephone" : "1800277768", "url" : "https://www.1800approved.com.au/" } ```