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Brokers aggregating under Specialist Finance Group will now be able to access the short-term funding products of the non-bank lender.
Oak Capital has joined the commercial lending panel of aggregator Specialist Finance Group (SFG), making its short-term funding options available to the 1,300 brokers aggregating under the group.
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The SME alternative non-bank lending specialist provides both commercial and residential loans to borrowers needing short-term finance (under 12 months).
Oak Capital’s founder and chief executive Stephen Mitchell commented: “Our newly formed partnership with SFG is an immense move for Oak Capital and further diversifies the short-term alternative funding options for their members and their SME customers.
“This partnership reinforces that Oak Capital is leading the way in the short-term, SME non-bank lender space and is the broker-preferred funder of choice in the alternative lending arena.
“Having the ability to work closely with a family-owned group that boasts over 1,300 members nationally is a very exciting proposition and one that we cannot wait to bring to life!”
Oak’s head of distribution & partnerships Nick Green noted that the new partnership comes off the back of Oak Capital’s continued focus on aggregator alliances in 2023.
He said: “This announcement is the consummation of substantial work carried out over several months by Oak Capital and SFG.
“We are thrilled about this amazing opportunity and cannot wait to get to work with one of the longest-serving aggregation groups in the country.
“Partnering with SFG further extends Oak’s reach and supports our continued growth strategy in the third-party market in 2023.”
Blake Buchanan, the general manager of SFG, added that there had been strong broker demand for Oak Capital’s products after the lender partnered with SFG’s recent and inaugural commercial convention held in Sydney.
“We are very close to our members and their diversified needs to service their customers. Partnering with Oak Capital is yet another layer to the commercial offering for our members,” the SFG GM said, adding that there had been “immediate interest and take up of Oak’s specialist products suite across [SFG’s] growing commercial brokerages”.
SFG’s lender panel now offers members with a range of products across home loans, investment loans, commercial finance, motor vehicle finance, and personal loans.
You can find out more about Oak Capital and the products it provides to the broker channel in the recent webcast, Why more brokers are turning to private lenders, available here.
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