While the big banks are withdrawing from Tasmania, TPT Wealth is expanding its support for local businesses, with a goal to become the largest commercial lender in the state.

With a proud history of over 134 years, TPT Wealth has recently updated its product range, as well as investing in its people. This includes establishing a growing and highly experienced team to provide face-to-face support for its customers.

Part of the MyState Limited Group, TPT Wealth’s ambitious growth strategy is based on its competitive product offerings, personalised service and the ability to rapidly make decisions locally.

Huw Bough, MyState’s General Manager of Banking, said TPT Wealth’s significant advantage in Tasmania is that it can operate with greater speed, flexibility and without some of the restrictions of a major bank.

“We’re aiming to be the number one commercial lending team in Tasmania over the next two years. With many of the big banks closing branches, we’re growing our local team and services,” said Mr Bough.

“Not all lending is the same. Non-bank lenders have an important role to play, particularly in support of small to medium-sized businesses. Many customers have unique needs, so a non-bank lender can be a smarter alternative. At TPT Wealth, we’ve assembled a strong relationship-based team, with new platforms, policies and products - some not available through the major banks.”

“These changes and improvements enable us to deliver more for our TPT Wealth customers, with solutions to help Tasmanian businesses succeed. We’re providing the type of products and personalised service the big banks just can’t offer on the island anymore.”

“Leading this new arm of TPT Wealth is Bryce Harding, Head of Commercial Lending. He’s an experienced commercial finance expert and he’s assembled the most respected lending team in the state. This includes employing an additional seven relationship managers, plus support staff, so it’s quicker and easier for customers to access the finance they need.”

“Many of our relationship managers have up to 30 years’ experience in finance and commercial lending, with impressive reputations built over decades in the industry. They know Tasmania well, and know what local businesses need to succeed. Our team can provide support across a variety of sectors including agri-businesses, construction and manufacturing,” Mr Bough said.

Bryce Harding, TPT Wealth’s new Head of Commercial Lending said their speed of decision-making sets it apart from major banks and other financiers.

“We understand our business customers. Our clients will get support from an experienced local relationship manager, not an interstate or overseas call centre.”

Mr Harding said he was pleased to join TPT Wealth at what is an exciting time for Tasmanian small and medium businesses.

“Small and medium-sized businesses are the backbone of the Tasmanian economy, and we see tremendous opportunities for growth. Business owners need to know when they seek finance, decisions can be made by local people who understand their needs.”

“That is where TPT Wealth’s commercial lending expertise comes to the fore. We have the team in place, we’re streamlining our processes to get quicker results for our customers. We’re aiming to provide conditional lending approval within weeks, rather than months which can be the case with some of the major banks.”

Mr Harding said TPT Wealth has been committed to Tasmania for more than a century, with this new commercial lending arm building on its rich history in the community.

“Our customers want to expand and grow. They need both finance and personal service for that to happen. We’re a very competitive alternative to the big banks in Tasmania,” said Mr Harding.