Banjo Loans enhances its asset finance offering
Australian small-to-medium enterprises (SMEs) now have more options to grow their businesses, thanks to new enhancements Banjo Loans has just introduced to its asset finance offering.
Responding to market feedback from both finance brokers and clients, the leading non-bank SME lender’s changes include:
- Increasing the loan size for Banjo’s Asset Finance Express, bank statement analysis offering, from $250,000 to $500,000; and
- Increasing the loan size for clients who are non-property backed and not required to give a deposit, from $150,000 to $250,000.
Banjo Loans’ Chief Commercial Officer, Brendan Widdowson, says the lender is excited to be introducing this enhanced offering to the market.
“We’ve been listening to finance brokers and our clients, and we know they’ve been asking for these changes to support the funding of larger assets ($250,000 to $500,000), such as prime movers and yellow goods, with a streamlined bank statement analysis solution,” Widdowson said.
“Asset finance is in demand year-round, and whatever big-ticket items SMEs might be considering, we’re pleased that these enhancements should make it possible for more of them to expand and thrive.”
Banjo Loans CEO Guy Callaghan added, “For Banjo, it’s important for us to be able to extend our offering. It allows us to better support our current clients, and it also creates additional opportunities for us to bring our proven approach to SME lending to a wider market.”
Banjo Loans offers tailored asset finance solutions for SMEs to replace ageing equipment, consolidate existing debts and release equity from existing assets.
Scenarios may include purchasing a new or used asset, mid-term refinancing, balloon refinancing or using an existing asset to raise capital.
For further information, please speak to a Banjo Loans Lending Specialist about the latest improvements. Visit: Business Loan Excel | Business Finance up to $2m* | Banjo Loans
