In a changing market, access to different funding types is vital
Private lender Aquamore has joined Compass Aggregation’s panel in response to broker demand for tailored commercial finance solutions.
Aquamore head of distribution Matthew Porch (pictured above left), said being part of Compass Aggregation’s panel would further extend brokers’ access to fast, flexible commercial facilities.
He said Aquamore was renowned for providing reliable debt solutions to the increasing number of businesses looking for alternative finance.
“Aquamore has a tailored solution approach to each deal, which will give a tangible benefit to Compass brokers who are focused on commercial lending for their clients and are seeking debt options in this space,” Porch said.
According to Compass Aggregation’s national sales manager Alex Brydges (pictured above right), at a time when markets continue to move and change, it’s critical for brokers to have access to different types of funding, with Aquamore a well-placed extension of the company’s portfolio of providers.
“There are progressively more and more business borrowers that fit into the private lending space, which correlates with the tightening credit appetite from traditional lenders, and, progressively, non-bank lenders,” Brydges said.
“In addition, there is a steady increase of ‘prime’ clients with strong financials prioritising speed of funding that are actively turning to private lending.”
Compass Aggregation, established by brokers to directly support diversification into commercial finance, currently has about 40 lenders on its panel, including banks, non-banks and specialist cashflow lenders.
Porch said the Australian economy was robust, with strong sector growth in infrastructure and manufacturing.
“That said, many business owners remain cautious of additional spending, which is compounded by the cost of borrowing becoming more expensive,” Porch said.
“Now is an optimal time for brokers to conduct SME financial ‘health checks’ and proactively discuss cash management strategies to minimise exposure, or, conversely, maximise growth.”
He said Aquamore was writing “a record volume of bespoke debt consolidation facilities” and had created an advance interest-only product to support businesses consolidating debt or needing an equity release to assist with working capital requirements when “cash flow is tight or needs to be massaged”.
To manage increased volumes, Aquamore has recently extended its BDM, credit and operations teams.
Porch said while Aquamore exclusively provided commercial finance solutions through brokers, it accepted all kinds of property as collateral, not just “commercial” security.
The partnership with Compass Aggregation follows Aquamore recently joining outsource Financial’s panel, while Compass also formed a partnership with Specialist Finance Group last month.
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