Social media has become the primary lead generator for a non-bank lender, which is now seeing significant interest from brokers via LinkedIn.
NWC Finance BDM Glynn Bruce told The Adviser that he regularly posts deals and scenarios on his LinkedIn profile, which boasts followers and a database of 12,000 brokers and developers.
“After each post, I will have three or four brokers send me a private message explaining that they have a client in a similar situation and asking if I can give them a call,” Mr Bruce said.
“It is quite astonishing how many brokers are doing business on LinkedIn. Posting scenarios and deals drives a huge amount of leads for us,” he said.
“I am constantly on my LinkedIn page providing case studies, tips and financing opportunities, both large and small.”
NWC has the capacity to service loans of up to $20 million for commercial purchases, commercial refinancing, cash out and general business cash flow.
The Sydney-based group is developing a niche in the market by basing its lending decisions on the existing asset values, risk profile and prospects of the projects being financed, at a time when the big banks are pulling back on funding developers.
“The banks have tightened up a lot in their lending to developers,” Mr Bruce says. “When we post on LinkedIn that we can offer a 100 per cent lend with additional security, development sites, funding construction or doing client equipment deals, brokers are seeing an avenue to fund their clients, as well as make some income for themselves,” he says.
“More and more developers are seeking out brokers. We received 70 completed applications from brokers within 24 hours of posting a construction deal scenario on LinkedIn.”
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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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