Grow Finance joins AFG panel

Grow Finance joins AFG panel

Leading non-bank business lender Grow Finance have announced its appointment to AFG’s panel. Grow’s addition meets sustained broker demand for a diverse range of commercial finance, delivered quickly via an intuitive tech platform.

“We’re thrilled to join AFG’s panel and support the Group’s ethos. It’s always been Grow’s vision is to be the non-bank of choice for business and brokers’ preferred partner for all SME asset finance and working capital needs. This is achieved by consistently developing new commercial finance products that meet current and emerging demands, supported by a platform that utilises sophisticated profiling, analysis and AI to provide aligned funding, quickly. This model also helps brokers accelerate their diversification by simplifying commercial finance,” said David Verschoor, Co-CEO, Grow.

“It’s great to have Grow onboard. We’re committed to ensuring brokers have the breadth of choice to meet client’s personal and business finance needs – particularly as more brokers are diversifying and increasing their exposure to SME customers. We lean on our specialist asset finance brokers to provide feedback on what niches need filling – and Grow’s broad stable of customer-centric products are a great match,” said David Drinkwater, National Sales Manager Commercial & Asset Finance, AFG.

“In addition, particularly over the last two years, speed to funding has become increasingly important. We are impressed with Grow’s platform that automates and streamlines the funding process, which results in fast access to commercial finance,” Drinkwater continued.

When asked about the broader market, Drinkwater commented, “The Australian economy is on a unique ride. There’s no doubt that COVID has significantly impacted equipment supply chains worldwide. Consequently, many businesses are experiencing shortages of key equipment – impacting the availability of, and driving price hikes for, second-hand equipment. Lenders who understand these nuances and provide products that address these challenges are key.”

Greg Woszczalski, Co-CEO, Grow, concurred stating, “The SME lending landscape is constantly evolving. Businesses that have struggled or significantly changed operations are rapidly selling unwanted or underutilised assets. SMEs are also placing orders earlier and making larger orders to offset supply chain uncertainty and keep a comfortable buffer of stock locally for both new and existing ranges. Consequently, there’s a spike in applications for asset finance, invoice finance, and trade finance facilities.”

Grow was recognised as the #1 fastest-growing company in the 2021 AFR Fast 100! and was recently received the # 1 Australian and #8 Asia-Pacific high-growth company in the 2022 Financial Times: Asia-Pacific high-growth ranking.