As the economy emerges from the pandemic and into a new challenging environment, non-bank lenders are all keen to move forward and help brokers provide the best service and products.
Read more: A new phase in commercial lending
Mohnacheff said the current market is ripe for brokers to diversify into the commercial area.
“Adding commercial lending to their suite of services provides brokers with more ways to help a wider range of customers,” he said.
Mohnacheff said venturing into the largely underserved market now would do the community a service, while enabling brokers to build longstanding, deeper relationships with referral partners such as accountants and real estate agents.
To help brokers with the many issues they might face, Liberty is offering tailored training and development sessions to help them both create and convert opportunities.
“We have specialised BDMs, underwriters, and support personnel available to offer hands-on assistance to brokers,” Mohnacheff said.
Liberty has also improved turnaround times – a critical factor in the commercial loans space – by opening its lines of communication with business partners.
In terms of the recent economic climate, Mohnacheff said record-low interest rates have encouraged investors to enter the commercial property market.
“And with Australians continuing their support of online retail, we also saw a steady demand for warehousing,” he said.
Mohnacheff said the company is committed to helping brokers weather rising interest rates.
“The need for business and commercial finance is extensive, with everything from business premises and office fit-outs to trucks and equipment required,” he said.
And because the non-bank recognises that there is often more to a customer’s story than is shown in their credit file, Mohnacheff said Liberty is set up to get the full picture and support brokers in a changing landscape. But in general, opportunities for brokers are good, with appetite for credit high due to post-pandemic demand.
“The need for business and commercial finance is extensive, with everything from business premises and office fit-outs to trucks and equipment required,” Mohnacheff said. “Many businesses are also seeking funds to help seize opportunities, such as purchasing stock at a discounted rate or securing staff to keep up with growth.”
