Metro Finance, an independent non-bank lender in Australia, has significantly expanded its lending capacity for big-ticket commercial assets.
The company now offers up to $1 million per transaction, with a total exposure limit of $2m, doubling the previous limits to empower its national broker network more robustly.
The updated lending structure allows commercial clients to secure larger loans for high-value assets.
This strategic enhancement aims to solidify Metro Finance’s position as one of the largest non-bank lenders and to support the growing financial needs of SMEs and brokers by facilitating a broader range of transaction types.
David Albest (pictured), who took the role of CEO in Metro Finance in August, expressed his enthusiasm about the new lending capabilities.
“The increase in Metro’s loan offering is yet another example of the business listening to its brokers and customers, and delivering,” Albest said.
“With this enhanced offering, we will also bring the same depth of knowledge and high levels of service that we already provide to small ticket commercial lending. Additionally, as part of the increase we will offer discounted pricing on larger transactions to further provide a competitive alternative to traditional lenders.”
With the increased lending limits, Metro Finance’s commercial clients have the opportunity to finance a diverse array of big-ticket items.
These include medium to heavy commercial vehicles, equipment for earthmoving, civil construction, as well as agricultural and industrial machinery, broadening the possibilities for business expansion and operational upgrades.
In a notable boost to its sustainability efforts, Metro’s green lending initiative, MetroEco, has received an additional $50m from the Clean Energy Finance Corporation (CEFC).
This increase brings CEFC’s total commitment to $100m, underlining strong market demand for environmentally friendly business solutions.
Since its inception in July, MetroEco has facilitated the adoption of more than 4,000 electric vehicles from 26 brands and financed various energy-efficient technologies, benefiting from competitive interest rates on eligible green assets.
