Loan Market Group (LMG) is expanding its asset finance lender panel as Australia's appetite for asset finance gains traction.
The aggregator revealed the addition to TP24, an international business lender, to its asset finance panel on Thursday.
The growth in asset finance – which uses a company's balance sheet as security to borrow funds – is playing an increasingly important role in helping small businesses nationwide scale. And it's also offering even more opportunities for finance brokers in Australia to grow their own businesses.
LMG said the move will give small and medium-size enterprises (SMEs) greater access to flexible, data-driven credit. With TP24 on board, LMG brokers can now offer revolving credit facilities that take into account the borrowers' latest financial activity and business performance, rather than relying on outdated financial statements. The move will expand funding options for growing businesses, LMG said.
“TP24 is a great addition to our panel,” said Tim Wells, head of operations – asset finance at LMG. “They bring a truly modern approach to business lending, one that’s based on real-time data, flexibility and trust. Our brokers are always looking for ways to help their clients grow and TP24 gives them another powerful tool to do just that.”
Australia’s asset finance boom is fueled by brokers’ push to diversify, evolving regulations and shifting business needs.
And small businesses – especially those in industries like hospitality, healthcare or manufacturing, where properties rely heavily on specialized equipment – are leading the charge. These loans are commonly used to fund furnishings, machinery or to boost working capital. Asset finance provides more flexible funding options and helps fill short-term cash flow needs.
Asset finance volumes climbed 15%, year-over-year, to $8.9 billion, according to COG Aggregation, while Commonwealth Bank (CBA) reported vehicle and equipment financing was also up 15% during its 2024 fiscal year, compared with the prior year. Financing for shelving and furniture fittings was up 25% during the same period, according to CBA.
Julia Paton, cofounder and commercial finance specialist at Melbourne-based Go For Broker said there’s a “huge amount” of momentum and demand for SME credit solutions, and brokers are benefiting by default.
"After COVID, the whole lending landscape changed a lot," Paton told Australian Broker. "There have been a lot of concessions made by the ATO in terms of people repaying their tax debt. The ATO is chasing over $60 billion dollars worth of tax debt at the moment; 65% of that is held by SMEs. And the SMEs are really the backbone of the economy. Many developers and new industries are struggling at the moment to get bank funding through banks as a result. So there's definitely an alternative that needs to be found for those businesses, because there is a lot of red tape in that space.
"And there's a bit of a flow-on effect from COVID too, in that the credit worthiness of clients has been affected," continued Paton, who founded the commercial finance brokerage earlier this year with Jane Benko. "So right now a lot of our work is just trying to find a home for those clients who have experienced those flow-on effects from COVID. They're impacted by banking – their liquidity positions are quite low and obviously their credit files are impacted too. What small to medium-sized businesses really need is really fast, flexible solutions."
It’s a positive trend for brokers, who are seeing a rise in client demand for asset finance solutions. Those with expertise in this area can broaden their value proposition, tap into new income opportunities and position themselves as a comprehensive resource for clients' wider funding needs. This not only enhances client loyalty but also supports long-term business growth.
(From left, Tim Wells of LMG, Donelle Brooks of TP24 and Adam Lane of TP24.)
Swiss-headquarter TP24, which also has offices in Melbourne, the UK and The Netherlands, offers a receivables-backed revolving facility, or business loan, that’s secured by the company’s receivables, rather than by traditional forms of collateral like property or personal guarantees. The loan doesn’t require business owners or directors to use their personal assets as collateral. Instead, the loan adjusts based on how the business is performing financially, making it more flexible and responsive to the business’s current needs.
"We know speed, transparency and flexibility are non-negotiables for SMEs seeking timely lending," said Adam Lane, TP24 group chief executive officer. "Being part of LMG’s platform means brokers gain instant access to our streamlined credit solutions, backed by clear underwriting, dependable fulfillment and dedicated broker support.”
TP24 head of client and partnerships Donelle Brooks added: “Joining the LMG panel is a fantastic step forward for TP24 in Australia. We’re thrilled to make our flexible funding lines more accessible to brokers and their business clients across the country. We understand that no two SMEs are alike, so we’ve designed our facility to adapt to the rhythm of each business, without the red tape.
"For LMG brokers, this means more options and greater confidence in matching clients with a funding partner that truly understands their needs," Brooks continued. "For clients, this translates into faster funding decisions, tailored lending and an improved borrowing experience all round. We’re proud to partner with LMG, working hand‑in‑hand with brokers to unlock growth for SMEs and fuel the AU economy.”
