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The aggregator has announced that Lumi has joined its lending panel.
Aggregator LMG has added small-business lender Lumi to its lending panel. With Lumi joining the LMG panel, the aggregator’s brokers will now be provided with an alternative finance option along with their respective small- to medium-sized enterprise (SME) clients.
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The SME lender provides “fuss-free” unsecured low-doc loans of up to $500,000. Funds are accessible as early as the next business day after approval, in an effort to facilitate cash flow for small businesses to “empower their growth”.
Commenting on Lumi joining the lending panel, LMG’s head of operations – asset finance, Tim Wells, welcomed the lender to the group and noted their loan options as one of the key reasons for adding Lumi to the LMG panel.
“Providing value and options to our brokers, and in turn their clients, is at the forefront of what we do. We’ve noticed an upwards trend of SMEs turning to brokers for their business funding needs,” Wells said.
“Having Lumi on the panel ensures we can facilitate the types of deals our brokers are demanding – it’s a real value add to the network and broker businesses.”
John Clifford, head of broker at Lumi said: “Our products complement LMG’s current asset finance product suite, providing further funding options for SMEs.
“Our unsecured loans and lines of credit offer flexible financing options for brokers. In line with our philosophy of transparency, brokers can be confident that their unique scenarios have an innovative solution.
“As an SME ourselves, we understand there can be roadblocks in attaining the funding needed to help your business grow. Lumi is here to shake up the SME lending space, allowing clients to receive hassle-free financing at the click of a button.
“The Lumi team is excited to be joining Australia’s largest aggregator, leveraging their network of highly experienced and diverse brokers.”
Prior to joining LMG’s lending panel, Lumi joined the lending panels of COG Aggregation and its related entity Platform Finance.
Additionally, LMG recently announced that it has integrated Quickli into its MyCRM platform, which is designed to streamline the application process, reduce lodgement times, and improve the overall quality of submissions.
According to the aggregator, since the launch of this integration, over 1,200 LMG users have already connected their Quickli accounts with MyCRM.
This allows brokers to take full advantage of Quickli’s serviceability calculator and policy engine, which provides access to more than 30 lenders during the modelling phase of the loan application process.
[RELATED: LMG integrates Quickli into CRM platform]
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