Lend.com.au has announced a new product that will allow brokers to access advance commissions.
The new product, which was in partnership with payments and funding gateway provider Butn, enables brokers to get their hands on commissions early for a fixed fee of $100. Brokers on the Lend platform can access up to $10,000 while non-Lend brokers can secure up to $5,000.
Lend.com.au offers a special rate for brokers who will apply for the product until 30 April.
Donelle Brooks, head of third party at Lend.com.au, said this new product launch is part of their initiatives to support brokers.
"We hope Butn's offering will help ease some financial pressures and contribute toward brokers feeling less strained, more opportunistic, and proactive with their cashflow management," she said.
Brooks said this is also timely given that businesses are starting to consider final quarter asset purchases and corresponding tax write-offs in preparation for the financial year-end.
Rael Ross, co-founder of Butn, said the product will help brokers access cash to alleviate cash flow crunches or materialise opportunities.
"Particularly at this moment of uncertainty, when smooth working capital is paramount to optimising operations, we're delighted to offer this great opportunity to support the broker community," he said.