24 Octber 2011

Finance and Systems Technology (FAST) brokers are defying tough business conditions with impressive results in the commercial finance market, according to the aggregator’s chief executive officer Steve Kane.

While market conditions remain challenging in the commercial space, Mr Kane said FAST brokers are continuing to grow loan volumes as well as their broader businesses.

“There’s no doubt that the pressure is on as economic difficulties and uncertainties continue to plague Australia’s SMEs, but there is still business to be done and FAST brokers are doing it,” Mr Kane said.

Experience, diligence and an understanding of the anatomy of a customer’s business are all key factors underwriting FAST brokers’ ability to make ground in commercial lending, according to Mr Kane – as well as the necessary support from their aggregator.

“Top commercial brokers choose to partner with FAST because we understand their business and we understand their needs,” Mr Kane said.

“Our brokers are established operators and leaders in their field who require personalised service and support to maintain that position – and that’s exactly what we provide them.”

Two of FAST’s commercial brokers were recently identified as among the industry’s finest in the prestigious MPA Top 10 Commercial Broker ranking.

The ranking identifies the top commercial operators in Australia based on loan volumes in the 2010/11 financial year.

FAST broker Tom Waltham of Capital United in Adelaide came in at number seven, with $30 million-plus loans settled over the 12 month period, while Brandi Financial Services’ Sam La, also a FAST broker, rounded off the top 10. He settled close to $17 million in loans over the financial year.

Although he conceded the commercial market remains challenging, Tom Waltham said brokers with a firm understanding of their client’s needs plus lenders’ policies and requirements could achieve considerable success in the commercial space.

“It’s all about presenting the client’s position and presenting all aspects of the deal well.

“Our client approach is that we say yes, rather than no. We will find a solution and exhaust all avenues until we get one.”

Mr Waltham said Capital United’s partnership with FAST was an intrinsic factor behind their lucrative success in the commercial space.

“It’s their understanding of the commercial market and their relationships with the major lenders which really sets them apart.”

FAST’s partnership throughout the introduction of the new responsible lending laws had been particularly valuable, according to Brandi Financial Services’ Sam La.

“FAST’s support and training through the rollout of the NCCP has been invaluable,” he said.

Though a challenging domain, stringent lending policies mean opportunities for brokers in the commercial market are riper than ever, according to Mr Waltham.

“There is a growing need for intermediaries in the commercial space and people are becoming increasingly open to our service proposition,” he said.

“The major lenders are also focusing more of their resources on growing their third party relationships.”

For brokers looking to replicate the success of their peers, good client relationship management, fruitful referral partnerships and a thorough understanding of lenders’ credit policies are key, according to Mr La.

“With lending criteria now quite stringent, you really need a good plan in terms of getting your deals through.

“Provide your clients with realistic goals, boundaries and expectations, and keep them informed throughout the entire process – even if the answer you have is not what they want to hear.”

While economic conditions remain challenging, Mr Kane said Australia’s lenders were certainly open for commercial business with the outlook for the sector promising.

“Those brokers with a keen understanding of this space, access to the right lenders and a strong aggregation partner are poised to do very well,” he said.