Non-bank unveils new specialist business loan product

A non-bank lender has announced a new loan product to fill a void in the specialist lending space for self-employed and SME markets



Bluestone Mortgages has unveiled a new specialist loan product for the self-employed and SME market.

Bluestone’s announcement follows the Federal Government’s budget and its announcement of positive changes for small businesses, including accelerated depreciation and tax cuts, and says it will further assist small business owners to fund and grow their business.

The Business Easy product, available from 10 June 2015, will be available for both clear credit and credit impaired borrowers. It will also allow a small business owner to take out a mortgage that can then be drawn down to manage their working capital.  

“Our new Business Easy product has been designed with the small business owner in mind,” Campbell Smyth, CEO of Bluestone Mortgages said. 

“It can be difficult to get finance approved when you’ve only been in business a short time so we are helping the self-employed, companies and trusts who have been trading for less than a year, even as little as three months.”

Royden D’Vaz, Bluestone’s national sales manager says the Business Easy product has been based on feedback from brokers and will fill a void in the specialist lending market. 

“Brokers have told us that they want to service this market. We have listened to their valuable feedback and this new product will help our brokers provide lending solutions to their clients.”

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