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Tapping into this under-served, neglected market segment represents a significant business growth opportunity for brokers, writes Bluestone Mortgages national sales manager Royden D’Vaz.
The statistics say it all – small business is the engine room of the Australian economy. A massive 90 per cent of businesses have fewer than 15 staff, and out of the 11.5 million working Australians, 2.4 million are self-employed, with eight million employed by small business.
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Mortgage brokers who ignore small business are ignoring the most powerful economic voice in Australia. Tapping into this under-served, neglected market segment represents a significant business growth opportunity.
Many businesses require additional capital to grow and for the owners of these businesses, the most obvious solution is to use the equity in their own home to finance this growth. Yet, the reality is that many traditional lenders are not willing to offer these funding options. As a result, business owners are resorting to high interest rate personal and business loans, overdrafts or even credit cards for finance.
The good news for small business is that there are funding options outside of the mainstream lenders. And the good news for brokers is that there is a real opportunity for them to inform and educate an untapped client base, and grow their own business at the same time.
Bluestone Mortgages understands the challenges of small businesses. Its experienced team of loan assessors bring a unique approach to lending. Each borrower's individual circumstances are considered on a case by case basis to ensure they receive the best deal possible. Working with brokers, they take the time to understand the background of each application, assessing each on its own merits.
Bluestone provides a range of loan options for clear credit and credit impaired self-employed and SME borrowers at all stages of their business from new start-ups as young as three months to mature businesses –who have had difficulty securing finance from a mainstream lender – looking to expand their current operations.
For more information, visit www.bluestone.com.au or contact your local BDM.
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