Bridging fintech Funding.com.au gears up for growth with brokers

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Funding.com.au has expanded its team of brokers and digital offering to quickly deliver bridging, construction and business loans. Chief Revenue Officer Lee Slattery explains why brokers are critical to customers and growth.

When did you start working with the broker channel and why?

Funding.com.au was established in 2015 by our founder Jack O’Reilly with a mission to provide fast, simple and reliable short term bridging loans for customers that the big banks don’t focus on. Our brokerage offer exists since the creation of the company, through relationships with brokers who need a transition solution for their client quickly. We have since expanded the channel to three BDMs, a partnership manager and our broker support team, joining the AFG lending panel some time ago, they remain a great partner and more recently we joined the panel V.O.W. We continue to seek aggregators and brokers to partner with with to offer their customers our unique financing solution.

Why is a strong brokerage channel important to you?

We believe that brokers offer something that lenders cannot, that they are available when the client needs them and that they have the client’s interests at heart by providing excellent client service and lending advice when needed. ‘they need it. Lending at any time can be stressful, especially when you need a loan quickly or when other lenders won’t help. It is therefore extremely valuable for clients to have a trusted advisor such as a broker to help you through this period. Funding was created to help people find loans when they need it, and it’s often for a short period of time when they really need help. Having brokers offer financing to their clients brings our products to more and more people, which is essential for us to help as many people as possible and achieve our goal of being the number 1 choice for home loans. short term guaranteed by the property. We know people want fast, transparent loans from someone they trust, brokers provide that, which is why Funding is fully committed to partnering and growing with brokers.

What is the company currently focusing on/main area of ​​work at the moment in terms of brokerage channel?

We have a great product so we strive to keep rates as low as possible and have made our fee structure simple and transparent including capitalization of interest so there are no ongoing charges or fees of interest. Because we are digitally driven, our ability to offer bridging, construction and commercial loans quickly through our technology is our real point of difference. Our people and technology allow us to accredit brokers in less than an hour, instantly quote loans, approve loans in two hours, and settle a loan in three days.

We continue to focus on our speed for brokers, to support this we have expanded our lending and credit teams and made our credit team available to brokers directly to discuss scenarios and applications. We have also increased our support by expanding our BDM team to have someone in every state available to support brokers, workshop offers, manage scenarios and can quote offers instantly or support any product training required.

What kind of tools and support do you offer brokers? And how do brokers access it?

We have already accredited brokers within an hour and give them the option of online quotes and lodging directly through our website or our aggregation portals, this is fully digital and on our website. We were very pleased with our broker portal launched in July, it shows our commitment to having brokers as a true partner and owning the customer, by allowing brokers to submit and track their quotes and requests and view their loan portfolio with us. We also launched our Broker Toolkit which includes our Product Guides, Credit Handbook, Fact Sheets, Client Guides and Forms, as well as product education and training modules for brokers.

Why should a broker seek to partner with you?

Our products are great solutions for their clients, we lend from $20,000 to over $10 million for up to 36 months with great rates, lending up to 65% LVR and more, with a simple fee structure and transparent including prepaid and capitalized interest, so that the client has no ongoing costs. Our products are digitally designed and delivered to meet any timeline or scenario the customer needs for a bridging, real estate or business loan. Our broker model is designed to support brokers by being fast, one-hour accreditation, two-hour approval and sensible credit decision, and three-day loan settlement. We also pay a commission at checkout, with no clawback. We see brokers as a true partner and want to help them grow their business with a unique offering for them and their clients.

For more information, visit www.funding.com.au/brokers or to speak to your financing BDM.

Lee Slatery

revenue manager

Funding.com.au

Bridging fintech Funding.com.au gears up for growth with brokers



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Last update: July 08, 2022

Posted: July 08, 2022




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