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Aquamore has joined Money Quest’s lender panel to help widen its short-term commercial finance options for business clients.
Private lender Aquamore has joined the lender panel of aggregation and brokerage business Money Quest Group (MQG).
The appointment aligns with MQG’s goal to expand its commercial finance portfolio, giving brokers access to a wider range of lending options, according to the brokerage group.
Commenting on the decision, Adrian Fisher, general manager for business development at MQG, said: “Aquamore’s addition will strengthen the group’s ability to provide short-term commercial finance to the growing number of businesses seeking larger-ticket short-term commercial finance facilities.
“The product suite and structure will directly support brokers in fulfilling the growing demand from SMEs and business clients for flexible, fast funding options.”
Aquamore Victorian state manager Darren McLeod added: “We’re delighted to now be on panel, particularly at a time when demand for substantial commercial funding is accelerating – especially in the five to ten million market, which is underserved.”
Looking forward, Fisher added that in the second half of the year, he expected demand for commercial lending to be resilient, with small and medium-sized enterprises (SMEs) seeking working capital or funding to support growth.
“We expect an uplift in brokers actively integrating private lending solutions into their toolkit, which will expand wallet share and aid retention,” Fisher said.
“Aggregators will continue to play a key role by providing brokers with access to reputable private and non-bank lenders, such as Aquamore.”
Commenting on the sector’s progression, McLeod stated: “Increasingly, brokers are turning to private lending to support SME clients with the best strategy and structure to help realise longer-term objectives.”
The move by Aquamore to join MQG’s lender panel comes as the lender ramps up for growth.
Earlier this month, it completed a $50 million extension of its warehouse facility.
The lender said the restructure “significantly expands” its short-term funding capacity, paving the way for new product development and more flexibility for business borrowers seeking larger-ticket commercial finance facilities.
One of the new products launched following the warehouse expansion includes Aquamore Gold, a commercial lending product aimed at giving business clients “value, speed, and simplicity” during critical business periods.
The property-backed loan comes with no application or risk fees and a rate of 7.99 per cent in July for commercial borrowers seeking up to $7 million (for loan-to-value ratios up to 75 per cent).
The business lender has also been welcoming new team members to support broker growth. Earlier this month, it announced the appointment of Yuhan Chin to its Victorian relationship management team.
Chin will be based in Melbourne and will work closely with McLeod and relationship manager Sanja Crnogorac to deliver alternative commercial finance facilities through brokers to SMEs in regional and metropolitan Victoria.
The new joiner was previously a director and mortgage broker at Fundify and has prior experience at Westpac and National Australia Bank (NAB).
[Related: Aquamore joins Connective’s lender panel]
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