Australia’s large banks often like to portray themselves as champions of small and medium businesses. But as a growing number of Tasmanian business owners will attest, big does not always equal better when it comes to securing essential finance for their business operations.

“Business owners want to know decisions can be made locally by people who understand their needs,” says Bryce Harding, Head of Commercial Lending at TPT Wealth.

Mr Harding says an increasing number of Tasmanian businesses are choosing to deal with local, non-bank lenders.

In response, TPT Wealth has launched a series of innovative new commercial lending products and expanded its client relationship team in Hobart, Launceston and Burnie.

TPT Wealth, aims to become the largest commercial lender in the state. “While the big banks are withdrawing from Tasmania, TPT Wealth is expanding,” Mr Harding says. “Small to medium-sized businesses are the backbone of the economy, and we see tremendous opportunities for growth.”

Mr Harding says TPT Wealth’s ability to process loan applications quickly sets it apart from major banks and other financiers. “Not all lending is the same. Non-bank lenders have an important role to play, particularly in support of small to medium-sized businesses. “Our big advantage is that we make lending decisions locally and quickly, aiming to provide conditional lending approval in a matter of weeks, not months.”

“We understand the challenges small and medium businesses face, especially new businesses. Our team works closely with clients to match them with loans to suit their circumstances, maximise borrowing opportunities, and offer a competitive interest rate.

“Our customers benefit from having hands-on service and lending products that can be matched to their needs.”

To meet the changing and varied needs of Tasmanian businesses, TPT Wealth has recently revised and expanded its range of business loans, offering new facilities tailored to different customer needs. The range includes the:

• Full Documentation Loan, offering a highly competitive interest rate and a higher borrowing capacity to customers who satisfy certain income criteria
• Self-Managed Super Fund (SMSF) Loan, for borrowers looking to add a commercial or residential property to their self-managed super account
• Development Loan, for developers looking to finance commercial construction, subdivision or unit developments
• Alternative Documentation Loan, providing flexible financial criteria for businesses that might not have all the standard documents to verify their income
• Lease Documentation Loan, for investors looking to purchase a property where the rental income will cover the loan repayments and outgoings – a great option for borrowers with complex financials

To support the expanded offering to businesses across Tasmania, TPT Wealth has, in recent months, appointed four new Senior Relationship Managers to its commercial lending division in Hobart, and a new Senior Relationship Manager to its regional office in Launceston - Simon Faulkner. Simon joined TPT Wealth in August 2021, bringing 15 years’ experience in commercial lending and relationship management.

In northern Tasmania, Burnie-based Sherene Woodard has been with TPT Wealth for 16 years, with experience in trust administration and estate planning, funds management, retail banking and commercial lending.

New appointees in Hobart are:

Scott Kremerskothen, who joined in October 2021, bringing with him 14 years of experience in business and commercial lending;

Rob Chaffey, who came on board in August 2021 after a banking and finance career spanning 33 years;

Andrew Brough, who had a long and successful career in consumer and business banking, financial planning, superannuation and managed funds before joining TPT Wealth in September 2021; and

Bill Lawrence, the most recent appointee, who joined in November, brining 26 years of experience in the banking and finance sector.

Bryce Harding joined TPT Wealth in May 2021 and was appointed Head of Commercial Lending in July 2021. He brings extensive financial services experience from a career spanning more than 30 years in Sydney and Tasmania.

*All loans are subject to TPT Wealth’s business loan credit approval criteria. Terms and conditions, including fees and charges apply. Further information available at tptwealth.com.au/commercial-lending