Grow Finance appoints new BDM partner

Mr Stitt commenced his new role at Grow Finance (Grow) in February 2022, and sees him working closely with Queensland partner Ryan McQuilty, along with collaborating with the wider sales and marketing team led by managing partner Brett Cheal.

He is now responsible for collaborating with brokers to deliver asset finance and working capital solutions (including business loans, asset, trade and invoice finance) to SME clients.

Greg Woszczalski, co-chief executive of Grow, seconded co-CEO David Verschoor’s statement stating that the lender was “delighted” to bring Mr Stitt on board to extend its reach and “actively help brokers deliver more commercial funding solutions to SME clients.”

“Matthew has a strong track record and understands the nuances of commercial finance as well as the Queensland market, compared to other states,” Mr Woszczalski said.

As well as having previously been a finance broker, Mr Stitt also held roles at GoGetta Equipment funding.

Co-CEO of Grow Mr Verschoor noted Mr Stitt’s experience in the asset finance space, adding he has “in-depth asset and equipment finance expertise” which directly aligns with the lender’s portfolio, along with “substantial” sales and account management experience in the commercial finance sector.

Speaking of his new position, Mr Stitt said: “My goal is to increase Grow’s market share in Queensland and contribute to the overall growth targets by actively supporting more brokers to provide aligned asset finance and working capital solutions to SMEs. In particular, we’re well aligned to help facilitate the private sale and sale/lease-back transactions as the demand for used assets continues to soar in the wake of ongoing supply chain delays for new equipment. 

“Fulfilling this immediate funding need represents a significant and widespread opportunity for brokers.”

According to Grow, Mr Stitt’s addition comes as the national sales team expands in order to “sustain aggressive growth targets”.

The appointment follows the placement of additional account managers in support of the business development team (BDM) network, along with another credit analyst tasked with expediting and streamlining funding.

The lender had recently flagged a “notable shift” in businesses using trade and invoice finance facilities, reporting that it had seen a month-on-month rise of 57 per cent in applications between June and July 2022.

The spike in demand followed an increase in broker uptake, alongside strong market conditions, according to the lender.

[RELATED: Broker uptake drives 57% trade finance spike at Grow]