Non-bank lender Prime Capital has expanded its business development team as more mortgage brokers expand into commercial lending.
The expansion was designed to meet rising demand from SMEs across Australia. Prime Capital has appointed Ron Galvan (pictured above left) and John Eid (pictured above right) as BDMs in NSW and Victoria, respectively.
Prime Capital said it was seeing significant growth in the commercial lending market as more SMEs approach brokers for loans to fund commercial transactions.
In response, Prime has been growing its team of BDMs to ensure it can maintain its high service levels and customer promise of fast, simple loans for brokers as they meet the needs of SME borrowers.
Read more: RBA walking along interest rate tightrope, says Finsure
Galvan joins Prime Capital from MyState Bank. He has also worked at St. George Bank, Pepper Financial Services Group and NAB.
“I’ve worked in the mortgage industry for almost all of my career,” Galvan said. “So, I’m passionate about assisting clients with their financing needs and, in turn, helping our broker partners grow their business. I’m super pumped to be joining the Prime Capital team and to be of service to businesses in NSW, especially SMEs.”
Based in Melbourne, Eid has notched up 12 years working in financial services.
He was most recently a BDM at private lender Archer Wealth, specialising in providing construction and development finance, as well as refinancing.
“I’m very much looking forward to using my experience at Prime Capital to help brokers get businesses the financing they need,” Eid said. “I see more business owners trying to finance their expansion and asset acquisition, so I’m very thrilled to support many of them through my new role at Prime.”
Read more: Perception of female brokers improving, MFAA report shows
According to Prime Capital’s chief commercial officer Steve Sampson (pictured below), Prime Capital is on a strong growth trajectory and committed to supporting its broker partners as many of them expand into commercial lending.
“That’s why we’re very excited to welcome Ron and John, who are both highly experienced professionals and know the mortgage industry really well,” Sampson said. “With them in our team, we can continue to keep our promise to support our brokers and help extend their services further into commercial lending.”