MoneyQuest brokerage hits monthly record for loan settlements

Brokerage notches up almost $120 million in loans

MoneyQuest brokerage hits monthly record for loan settlements


By Jayden Fennell

A MoneyQuest brokerage  in Melbourne has recorded almost $120 million in paid settlements for the month of January 2022 a record for the broker network.

The amount, achieved by MoneyQuest Balwyn franchise owners Scott Seng and Matthew Chik (pictured), was the highest monthly settlement amount that any MoneyQuest franchise has secured across the network’s history. The Balwyn franchise’s settlements included a combination of home loans and one substantial transaction for an e-commerce business, involving a core debt and working capital facility.

Seng and Chik said they were thrilled with the outstanding result, attributing the success to their ability to form strong relationships with lenders, funders, and clients through their knowledge of the corporate and commercial debt space.

“To achieve close to $120 million in settlements in one month is incredibly exciting for our team,” said Seng.

“We have worked very hard to build an extensive network of contacts within the lending industry and have focused our energy on nurturing our business client relationships. The fact that our hard work has paid off in this way is extremely satisfying … there were quite a few late nights involved to get certain elements over the line, but it was all worth it in the end.”

MoneyQuest Australia managing director, Michael Russell, commended Seng and Chik for their work ethic and dedication.

“Scott and Matt have a wealth of experience in the commercial lending space and these fantastic results are very well deserved,” Russell said.

Seng and Chik welcomed University of Melbourne graduate Henry Nguyen to the business in October 2021. The Balwyn franchise was the first to participate in MoneyQuest’s innovative graduate program which launched last year.

“Henry has been an extremely valuable addition to our business. He is receptive to our training and guidance, he is hardworking and eager to learn, and most importantly, he comes to work each day with the right attitude,” said Chik.

The enterprise-wide graduate program facilitates the integration of graduates into MoneyQuest businesses with three aims - to provide tertiary graduates with an accelerated career pathway delivering industry-specific training with on-the-job experience, professional development, networking opportunities, and mentorship. The second aim is to give franchise owners the opportunity to gain forward-thinking, while the third aim is to recruit and retain quality people within the broker network.

‘’The two-year immersive program also connects graduates with industry mentors and provides them with the opportunity to complete a Certificate IV in Finance & Mortgage Broking and a Diploma of Finance & Mortgage Broking Management,’’ said Russell.

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