So Money is stepping up its game in the business lending arena.
The non-bank lender, best known for its residential mortgages, is now offering solutions for self-employed borrowers and small and medium-sized enterprise (SME) lending in response to Australia's growing small business lending market, and to match the growing broker shift toward non-bank solutions.
Zachary Su, founder of Sydney-based So Money, said the latest offerings help simplify the income document verification process for both borrowers and brokers, a move that’s accelerating the industry’s pivot toward non-bank lenders.
"Small business owners remain one of the most underserved borrower groups in Australia, often burdened by high-rate, low-doc loans due to rigid requirements from major banks," Su told Australian Broker. "Traditional lenders continue to require extensive financials, uniform income patterns and long assessment periods, criteria that rarely reflect how modern Australian SMEs actually operate. So Money’s newest solution directly targets this gap with a simplified documentation approach and competitive pricing strategy."
So Money's small business lending line-up offer a number of features, the company said, including:
Su called this a "game changer."
"Alt doc is behind us; lite doc is the future," he said, adding that "the industry is evolving.
"This process gives brokers a powerful solution for clients who are financially strong, but underserved by traditional bank processes," Su explained. "Our goal is to provide clarity, speed and flexibility for self-employed Australians who deserve better options.”
In addition, So Money is also introducing a new broker-partnership model that lets brokers concentrate on sales and client relationships, with the lender taking on the bulk of the operational work.
That means So Money will take care of the data-entry requirements, follow-ups and back-office support. The non-bank said it also offers more flexibility than traditional banks and non-standard income verification requirements for borrowers, giving brokers more time to focus on client strategy and business growth.
"Brokers want strong product solutions without the administrative burden," Su said. "Our partnership model allows them to focus on what they do best, while we support the rest.
"This model has already drawn interest from experienced brokers seeking a more scalable, simplified business structure and from new entrants looking for a supportive platform," he said.
SMEs are growing rapidly across Australia, and many of them are fueled by self-employed owners. Many small businesses are seeking capital to expand, whether that be through hiring new staff, upgrading equipment, moving offices or expanding marketing schemes.
And So Money isn't alone in noticing the momentum. In fact, according to the Australian Bureau of Statistics (ABS), the number of new ABNs, or Australian business number registrations nationwide, jumped 21% in the year leading up to August 2025, compared with a year earlier.
But Australia’s expanding small-business sector is being driven by borrowers who increasingly don’t fit the mould, particularly self-employed borrowers, expats and non-residents, who have been squeezed out as traditional banks tighten their lending criteria. That shift is opening the door to new revenue opportunities for both lenders and the brokers.
