Shifting trends across the Australian business landscape have created a nearly bottomless demand for commercial credit assistance – and brokers are best-suited to meet the growing need, according to a specialist lender.
“Startup culture is really heating up, and many SMEs are looking to expand. Whether it’s opening additional shopfronts, purchasing new equipment or employing new staff, there are many ways that brokers can help business owners with finance,” explained John Mohnacheff, Liberty national sales manager
“The need for commercial lending is extensive. There has never been a better time for an entrepreneurial mortgage broker to step in to help.
“Brokers are becoming ever-more relevant to existing clients and in their community at large.”
Liberty supports its commercial brokers via an extensive network of BDMs, with more than any other non-bank lender, spread throughout every state in Australia. Further, they provide an additional level of assistance to mortgage brokers new to the commercial space.
“We’re here to provide the support brokers need – as and when they need it. And, with custom-built technology and an underwriting team of 30 people, we are doing everything possible to assist our business partners,” Mohnacheff said.
“To our mortgage brokers, we offer personalised commercial training sessions and workshops to help brokers expand the value they offer customers.”
“We’re not afraid to go above and beyond; we’ll even accompany brokers on customer visits to help them do their first loan. Whatever it takes, we’re always happy to help.”
In recent months, Liberty has made “significant changes” to its commercial product range.
“We believe we’re at the forefront of commercial lending,” said Mohnacheff.
“We listen to what’s important to business owners, and then construct innovative offerings to suit their needs.
“As well as options to capitalise upfront loan costs to support business cash-flow, we have also recently introduced options to reduce early exit fees. This provides greater flexibility for those seeking short-term finance.”
According to the lending executive, mortgage brokers who embrace commercial lending sooner rather than later will see the “greatest gains”.
“Currently, mortgage brokers have a 60% market share of the residential lending market, but when it comes to commercial, their market share is less than 5%. The opportunity is enormous, and you will be doing your community a great service by helping meet the needs of that small business market,” he concluded.