Brokers given further SME working capital options as non-bank expands distribution
Non-bank lender Lumi has been added to the commercial lending panels of Australian Finance Group (AFG) and Fintelligence, broadening brokers’ access to its working capital and business loan products for small and medium-sized enterprises across Australia.
The move comes after Lumi raised funding limits to $1 million on both its revolving Line of Credit and Business Loan products, a change aimed at supporting brokers with clients seeking larger or more flexible capital facilities.
The lender has positioned itself as a destination for sub-$250,000 SME transactions, supported by median credit decision times of under four hours and a standardised, straightforward credit process underpinned by human underwriters. This approach is intended to allow brokers to settle smaller working capital deals on the same day and, in turn, strengthen client relationships and repeat engagement.
For larger or more complex SME files, Lumi provides access to a specialist credit team and a framework for higher-value transactions. Brokers can seek funding of up to $1 million across both products, with the option of offering residential or commercial property as security.
Lumi, AFG and Fintelligence plan to run joint broker education, accreditation sessions and working capital workshops around the country, aimed at helping brokers diversify their offering, retain clients and respond to growing SME funding demand.
Lumi chief commercial officer Ben Lamb (pictured top centre) said the partnerships were a key step in widening access to SME finance solutions. “We’re thrilled to partner with AFG and Fintelligence,” he said.
“Brokers have been asking for transparent decisions, commercial thinking and flexible products for their clients with real-world cash-flow challenges. Our Line of Credit has no line fee, no GSA, no ongoing fees and limits up to $1 million. Our team is always available to workshop deals, not just send brokers to a portal. We make it easy for brokers to win and retain more SME clients.”
For AFG national sales manager of commercial and asset finance, David Drinkwater (pictured top left), Lumi’s offering complements the group’s broker network.
“Lumi’s flexible products and commercial approach to lending make it a strong fit for our broker network,” he said. “This partnership further strengthens our ability to support brokers diversifying into SME lending at a time of growing demand.”
Fintelligence general manager Michael McEvoy (pictured top right) highlighted the importance of working capital facilities in the broker proposition.
“Working-capital solutions are now central to how brokers deliver value,” he said. “Lumi’s transparency, service levels and larger-limit capabilities align strongly with the needs of our commercial and asset-finance brokers.”
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