Wave Money expands into SMSF and commercial

Wave Money, an independently owned Australian non-bank lender, is broadening its product suite to include self-managed super fund (SMSF) lending and small-ticket commercial lending. Founder and managing director John Flavell says both moves draw on the same common-sense credit philosophy that already underpins the lender's residential offering for self-employed borrowers, investors and clients using company or trust structures. With Australia holding more than $4 trillion in superannuation assets and small business owners making up 70 to 80 per cent of Wave Money's existing customer base, Flavell argues the opportunities are already sitting inside broker databases, waiting to be unlocked.

What is Wave Money and what types of borrowers does it serve?

Wave Money is an independently owned Australian non-bank lender founded to serve borrowers whose needs fall outside the parameters of traditional lenders, particularly self-employed borrowers, investors and customers using company or trust structures. The lender estimates that as much as 20% of the market sits outside standard lending parameters, including gig economy workers and borrowers with multiple income streams. Its model gives brokers direct access to experienced sales and credit teams and applies a common-sense approach to nuanced borrower scenarios rather than treating standard policy as a hard boundary.

Why is Wave Money moving into SMSF lending now?

Australia holds more than $4 trillion in superannuation assets, with approximately $1 trillion already inside self-managed super funds, yet many borrowers remain underprepared for retirement. Founder John Flavell says SMSF lending is 'becoming an increasingly important opportunity for brokers' rather than a niche product. Wave Money sees a strong overlap between its existing residential clients and demand for SMSF lending, making the expansion a natural extension of current broker relationships rather than a move into unfamiliar territory.

How does Wave Money make SMSF lending simpler for brokers?

Wave Money's SMSF offering is built around flexible servicing structures, direct engagement with the lending team and a pragmatic approach to income verification. The lender supports newly established funds, fund-only servicing scenarios and structures involving additional contributions from members. Flavell says the servicing philosophy mirrors what broker partners already know from the residential model: 'Our whole approach is about making the seemingly complex simple. It's the same DNA we apply across the rest of the business.'

What are the loan parameters for Wave Money's small-ticket commercial product?

Wave Money's small-ticket commercial lending is focused on metropolitan properties only, with loan amounts capped at $1.3 million and LVRs up to 80%. The lender also offers alt-doc and lease-doc commercial solutions for self-employed borrowers and investors. By deliberately narrowing the parameters, Wave Money aims to cover the vast majority of small commercial borrower requirements while keeping the process accessible for residential brokers who may find traditional commercial lending unnecessarily complex.

Which small business types does Wave Money's commercial lending target?

Wave Money's small-ticket commercial product targets the business owners who make up 70 to 80 per cent of its existing customer base. Flavell identifies panel beaters, cabinet makers, cafes, medical practices and small industrial operators as examples of clients who eventually want to purchase rather than rent the premises they operate from. He believes brokers can approach these deals using the same logic they apply to a residential investor, making the process straightforward rather than specialist.

How does Wave Money's direct-access model help brokers with complex lending scenarios?

Wave Money gives brokers direct contact with decision-makers rather than routing queries through intermediary layers. Flavell argues this becomes more valuable as borrower scenarios grow more nuanced: 'Relationships, service and contact don't go out of style. The more complicated the environment becomes, the more valuable those things become.' The credit team assesses the full context of a borrower's circumstances, applying judgement rather than defaulting to standard policy.

What is the broader strategy behind Wave Money expanding into SMSF and commercial lending?

Wave Money's move into SMSF and small-ticket commercial lending is framed as a deepening of its core identity rather than a departure from it. Flavell says the goal is to help brokers deliver more solutions to the same clients, strengthening broker-client relationships and reducing the need for borrowers to seek out other lenders. 'The opportunity for brokers is delivering more solutions to the same clients,' he says. Both product lines are positioned as untapped opportunities already sitting inside existing broker databases.

Roundtable participants

John Flavell, founder and managing director, Wave Money — Seasoned mortgage and finance professional; founded Wave Money to serve borrowers underserved by traditional bank and non-bank lenders; has overseen the lender's broker-first service model since inception; is leading the expansion into SMSF and small-ticket commercial lending.