One of Australia’s big four banks is restructuring its broker support services in preparation for a massive business lending play via the third-party channel.
“The majority of people who are employed in Australia are in some form of small business.
"So the needs of small business in Australia as a cohort are significant,” he added.
Mr Kane said Australian business will continue to require resources in various forms such as funding for growth, equipment finance for retooling, the purchase of assets or standard business cash flow lending.
“Those needs will [have] to be fulfilled, and I think that the broker channel is well placed to transition into that area,” he said.
[Related: NAB announces another rate cut]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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