Powered by MOMENTUM MEDIA
the adviser logo
Lender

Steve Sampson becomes CCO of non-bank lender

by Annie Kane5 minute read
Steve Sampson becomes CCO of non-bank lender

An SME lender has appointed Bank of Sydney’s former head of third party, Steve Sampson, as its first chief commercial officer.

Non-bank lender Prime Capital, which distributes specialist mortgage products for SMEs exclusively through the broker channel, has welcomed Bank of Sydney’s former head of third party, Steve Sampson, to the newly created role of chief commercial officer (CCO).

To continue reading the rest of this article, create a free account
Already have an account? Sign in

In the new position, which Mr Sampson started last month, he is charged with increasing the distribution of Prime’s low-doc, non-resident, investor, super and construction SME loans through aggregator partnerships.

The non-bank noted Mr Sampson’s 20 years of experience in the broker space, with Paul Scanlon, the CEO of Prime Capital, stating: “We are delighted to welcome Steve and excited with how his extensive industry and aggregator experience will help us assist more SMEs to find a loan where the banks can’t or won’t.”

Advertisement
Advertisement

Prior to being the head of third party distribution at the Bank of Sydney, Mr Sampson held roles in a range of third-party positions, including as head of distribution/general manager of Provident Capital/Cashflow and as general manager of Choice Home Loans between 1998-2006.

The new CCO commented: “I have taken careful consideration in my next career move and given the difficulties that SMEs experience in obtaining funding, particularly following the COVID-19 pandemic, the Prime offering was something that really excited me. 

“After meeting the team and seeing their passion for this space, my decision was easy,” he said.

He continued: “Prime’s purpose is to provide SMEs with fast and simple loan solutions avoiding the bureaucracy and rigid lending policy of more traditional lenders.”

He added that the lender had recently increased the loan-to-value ratio (LVR) for its Business Basics product to 75 per cent (when secured against a residential properties in major capital cities).

“Accessing a higher percentage of equity will further enhance the growth opportunities for businesses, particularly those that are coming out of the post-pandemic period,” he said. 

“While the LVR has increased on this product, the interest rate will be unchanged from 4.95 per cent p.a. – providing the property is in a major capital city,” he added. 

Bank of Sydney has not announced a new head of third party since Mr Sampson’s departure in January 2021.

[Related: Recognising the Symond legacy]

Steve Sampson becomes CCO of non-bank lender
steve sampson
TheAdviser logo
steve sampson

Annie Kane

Annie Kane

AUTHOR

Annie Kane is the editor of The Adviser and Mortgage Business.

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

daniel tuttlebee resimac asset fInance ta l27zun

Resimac takes controlling stake in Sonder

Resimac Asset Finance has expanded its acquisition stake in equipment finance business Sonder Equipment Finance...

READ MORE
asic ta 2

ASIC seeks ‘common-sense solutions’ to breach reporting

The Australian Securities & Investments Commission (ASIC) has committed to “improving” the operation of the...

READ MORE
andrew mills homestart ta htfetw

HomeStart drops graduate loan deposit to 2%

HomeStart Finance, a non-bank lender backed by the South Australian state government, has lowered the deposit hurdle...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more