ISCOVER
The SME lender is ramping up for growth in Western Australia, welcoming a new senior BDM to lead the non-bank’s growing broker business in the state.
Non-bank lender Prospa has welcomed Damien Muir as senior business development manager (BDM) for Western Australia, as the lender builds its physical presence in the western state.
The new hire, who started at Prospa last Monday (11 August), has over four decades in finance and more than 25 years working directly with brokers.
Muir was most recently the state director for Western Australia at Loan Market, a position he held for the past three and a half years.
Prior to that, Muir worked closely with the third-party channel while at major bank, the Commonwealth Bank of Australia (CBA), including as Western Australian state manager for third-party banking, where he led the aggregation group’s Western Australian network with a focus on helping brokers grow their businesses.
In his new role, Muir will spearhead Prospa’s broker engagement across Western Australia, reconnecting with aggregator groups, supporting diversification into SME and cash flow lending, and acting as the lender’s on-the-ground presence in the state.
He will focus on building awareness of Prospa’s solutions among Western Australian brokers, helping them better serve self-employed clients, and laying the foundations for a local team as demand grows.
Welcoming the lender’s new team member based in Western Australia, Paul Evans, the national sales manager at Prospa, commented: “We’re thrilled to have Damien join the team. His passion for helping brokers grow their businesses, combined with his extensive experience, is set to be a game-changer for us in one of Australia’s key SME regions.
“This is a significant step forward in our mission to equip brokers with the essential tools and insights they need to serve their clients better and uncover opportunities as trusted advisers.
“Damien firmly believes that SMEs deserve more attention in the market, and he is committed to helping brokers build strong, meaningful connections with these businesses.
“What stands out most about Damien is his authenticity and alignment with our values – particularly, embodying the customer-obsessed mindset that Prospa was built on.”
Speaking to The Adviser about his new position, Muir said: “I’ve known brokers and business partners that have used Prospa’s product and service, and they all speak exceptionally highly of them. Through the recruitment process, it became clear how strongly the company’s values of being ‘customer-obsessed’ and working as ‘one team’ aligned with my own.
“I’ve been dealing with brokers for 25-odd years, and I just love dealing with self-employed business people. Seeing them achieve success is awesome. And when you get the double whammy of dealing with brokers who are also helping SMEs achieve success, that just drives my passion further.
“What excites me most about the SME space is the pace. In residential lending you’re dealing in days, weeks and months, but in Prospa’s world, it’s seconds, minutes and hours. The luxury that we’ve got with Prospa is that they’re heavily invested in success, heavily invested in providing the right solutions for SMEs and their tech... I’ve been really impressed with what Prospa have created and what they’re delivering into market with their partner portal, with Prospa IQ, which has only been out recently.
“Businesses need quick solutions to seize opportunities, and Prospa’s technology and processes are built to deliver that speed. For brokers, that means being able to provide an answer to a client in real time, which not only helps them secure the deal but strengthens their position as a trusted adviser.”
Muir said his first priority is to reconnect with Western Australia’s broker community – from the big aggregator groups to individual firms – to understand their businesses and identify opportunities.
He flagged that, in Western Australia, construction remains strong with demand outpacing supply, while hospitality, retail, and tourism are also experiencing solid growth as more people move west. Mining also continues to be a major driver, creating flow-on opportunities for the many SMEs that service the sector, he told The Adviser.
“For me, I’d like to be the first port of call for brokers that have any cash flow funding opportunity. I want brokers to see me as approachable, responsive, and someone who makes them look good to their customer,” he said.
“Many brokers are sitting on SME opportunities without realising it, and I want to be the conduit that helps them unlock those. Longer term, I hope to expand Prospa’s presence in WA and build a team here, because the opportunity is huge and brokers value local support.”
[Related: Cash crunch forcing SMEs to seek funding]
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