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Non-bank lender Lumi has joined the lender panels of major aggregator Australian Finance Group Ltd (AFG) and the commercial lending panel of AFG-owned asset finance aggregator Fintelligence.
The new addition enables AFG and Finteligence brokers to access its suite of working-capital and business-lending solutions, which recently saw funding limits increase to $1 million for both its revolving Line of Credit and Business Loan products.
Lumi chief commercial officer Ben Lamb said the partnership was an important step in expanding broker access to modern SME solutions, such as its line of credit and business loan products.
“We’re thrilled to partner with AFG and Fintelligence. Brokers have been asking for transparent decisions, commercial thinking and flexible products for their clients with real-world cash-flow challenges,” he said.
Lamb noted that Lumi’s Line of Credit has no line fee, no general security agreement (GSA) requirement, 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,” he said.
AFG’s national sales manager – commercial and asset finance, David Drinkwater, welcomed Lumi to the panel and said: “Lumi’s flexible products and commercial approach to lending make it a strong fit for our broker network. This partnership further strengthens our ability to support brokers diversifying into SME lending at a time of growing demand.”
Commenting on the change, Fintelligence general manager Michael McEvoy added: “Working-capital solutions are now central to how brokers deliver value. Lumi’s transparency, service levels and larger-limit capabilities align strongly with the needs of our commercial and asset-finance brokers.”
AFG and Fintelligence brokers will only have to complete a single accreditation across Lumi’s full suite of products.
The three parties will jointly deliver broker education, accreditation, and working-capital workshops nationwide.
[Related: Lumi raises funding limits for SMEs]