MA Money has hired former RedZed BDM Craig Stuart in a newly-created role to lead its commercial division, as the non-bank division of global alternative asset management firm MA Financial gears up for a game-changing launch of new commercial loan products.
As head of commercial, Stuart reports directly to Tim Lemon, MA Money's national sales manager, and has been tasked with leading the non-bank's commercial division. MA Money said the role will bolster its commercial lending capabilities, with Stuart driving growth, supporting the BDM team and equipping brokers to capitalize on new opportunities. "His mandate is to ensure MA Money becomes a trusted partner in commercial lending for brokers who want to diversify and grow," the company said.
"Craig is the right person to lead this division and drive long-term growth for MA Money," Lemon told Australian Broker. "By appointing Craig to lead this division, we’re ensuring brokers get the right products, a seamless process and the personalized service they expect from MA Money.”
Meanwhile, MA Money, which surpassed $3 billion in loans earlier this year, is rolling out new commercial loan products in October, including a new commercial self-managed super fund (SMSF) loan, right as the SMSF industry turns 18.
Lemon said MA Money's expansion will give brokers and borrowers "the best possible experience."
“We believe this will broaden MA Money’s offering to brokers and reinforce our commitment to providing flexible solutions backed by outstanding service,” he said. “The seamless credit process and high standards brokers have come to expect from our residential range will be carried over into our commercial loans. We’re excited to bring this new offering to market."
Increased lender appetite and rising business confidence, along with the growing number of self-employed individuals across the country, has prompted increased small to medium enterprise (SME) investments nationwide, with many firms reporting a notable uptick in commercial finance settlements.
“Commercial lending is growing rapidly, and we’re seeing more brokers wanting to take advantage of that momentum," Lemon said. "Traditionally, it’s been seen as complex, particularly for brokers who focus on residential. But our new commercial loan products are designed to simplify the process and make it more accessible."
And it’s not just individual lenders riding the wave of growth in the commercial property sector. During NAB's recent "Commercial Broker Quarterly Economic Update" webinar, NAB chief economist Sally Auld said there's been a clear shift in the commercial property segment in the last six to 12 months.
"It's right to be reasonably optimistic on that space," Auld said, explaining that the growth is "partly a function of values; partly a function of rates having come down.
"Even in parts of Australia, particularly Victoria, where that market has been really depressed," she said. "Just anecdotally, talking to some of our customers who are big property developers and investors down there, they are now seeing that there's been enough of a valuation adjustment in a relative sense that it's probably the right time to start deploying capital back into that space."
For brokers, the opportunity is also expanding. While brokers currently facilitate approximately 76.8% of all residential mortgage loans in Australia, according to the Mortgage & Finance Association of Australia (MFAA), the commercial lending space remains far less broker-led. It's estimated at just 30%. That leaves significant untapped potential for brokers looking to diversify their expertise and grow new revenue streams.
“Commercial lending is one of the most exciting growth areas for brokers right now, and I want to make sure MA Money is the partner they turn to for opportunity and support," Stuart said. "My goal is to make it simpler for brokers and their clients, while providing the same consistency, support and personal service that MA Money is known for on the residential side. Brokers are looking for trusted partners to help them diversify and grow. And that’s exactly what we want our commercial division to deliver.”
