Non-major lender Suncorp Bank
has launched online submissions for small business lending, in a move which it touts as an “industry first”.
Brokers lodging small business loan applications to Suncorp will now be able to do so electronically via NextGen.Net’s ‘ApplyOnline’ system. The non-major says this will translate to increased efficiencies, faster turnaround times and improved functionality for brokers.
Suncorp’s national small business manager, Robynne Frost, said the new process is one the solutions Suncorp is offering as a part of its commitment to support brokers diversify into small business lending.
“Suncorp Bank is committed to investing in technology to improve the lending experience for brokers and their customers,” she said.
“The addition of small business lodgement through ApplyOnline enables brokers to easily transition from home loans to small business with a streamlined ‘combination’ application.”
The non-major is also offering SME Masterclasses, BDM support and improved commissions for brokers operating in the SME sector.
“The SME sector represents a significant opportunity for our broker partners and Suncorp Bank is committed to supporting them as they look to expand and diversify their businesses,” Frost said.
NextGen.Net sales director Tony Carn said this announcement is market leading.
"Suncorp Bank has again shown market leadership in the broker channel through the rollout of ApplyOnline electronic lodgement for small business loans.
“In such a competitive and ever-changing market it is great to see Suncorp Bank going above and beyond to meet the needs of Australian brokers.”