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If you have an accreditation to write home loans, you are automatically accredited to write small business loans up to $1 million with Suncorp Bank, according to its national manager of small business and commercial, Robynne Frost.
We have a dedicated team of specialist SME/commercial business development managers who are available to work with and support our broker partners to better provide guidance specifically for SME customers.
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Our specialisation in this segment and genuine passion for helping aspiring Australians sets us apart and makes us the bank for SME customers.
Workshops and training days
Understanding the SME market is crucial for brokers wanting to add value to their customers. As such, to further bolster our support for our broker partners, we will launch a series of CPD point-awarded small business lending education forums and workshops later this year. A lot of SME lending is about asking the right questions and identifying trends and opportunities in their balance sheets. We aim to assist brokers in understanding these factors, among other SME complexities and challenges.
Additionally, through our involvement with the recent New Revenue Streams Boot Camp events hosted by The Adviser, brokers walked away with a stronger understanding of how to leverage their existing customer base to capture new business and build a stronger, more profitable business.
Support provided
We provide support to brokers, not only through the provision of highly competitive products and rates, but by creating an exceptional customer experience for both broker and customer.
We are always available to assist and mentor our broker partners through the loan process, ensuring they have all the tools necessary to act independently. As such, our Business Essentials loan works to remove the complexity involved in commercial lending by offering the same set-up and everyday usage of a home loan.
Changes to commission
We believe working closely with our broker partners to build sustainable and profitable business is a key priority. We will look to align commissions for both home lending and small business deals in the near future.
The market is increasingly competitive, with SMEs becoming an area of increased growth and focus for many major and non-major banks moving forward. Banks will continue to offer strong, competitive offers in the SME lending space, which will open more opportunities for brokers who can offer the whole package.
Becoming the trusted adviser
Understandably, there is a high emotional investment by SMEs, and with 71 per cent having limited business and financial skills, many are looking for a trusted adviser to help navigate their way. Brokers are (mostly) self-employed business owners too, with inherent capability to achieve a more intimate understanding and empathy of the customer’s business and personal needs. We are excited about the opportunity that this presents to brokers, to actually become that trusted adviser!
