Show Notes
Small businesses can struggle to access the right finance even when funding could help them manage cash flow or pursue growth. So what are lenders missing when they assess SMEs, and how can brokers help businesses find the right solution? Join Broker Daily's Julian Barnes and Sam Althaus, CEO and founder of SME non-bank lender Lendmigo, to explore the gap between how small businesses operate and how they are financed. From the challenges facing SME lending to the opportunities for brokers looking to expand into commercial finance, this episode of Broker Daily Spotlight explores how a different approach to business funding could help brokers better serve their clients. What's covered: Why small businesses struggle to access finance, and the limits of traditional lending approaches. How lenders assess cash flow, business performance and the people behind a business. How mortgage brokers can identify commercial finance opportunities among existing clients, including through referral arrangements. Listen now to find out more about the changing SME finance landscape and the role brokers can play in helping businesses access funding.
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The Australian Securities and Investments Commission's (ASIC) review of mortgage brokers' compliance with the best interests duty (BID) is putting the spotlight on how brokers assess client needs, recommend products and document their decisions. But what do the findings mean for brokers and why do questions remain around the regulator's expectations? In this podcast, we unpack the key findings and implications of ASIC's review, exploring what the regulator expects from brokers, where compliance challenges remain and what the findings could mean for the future of broking. From product recommendations and record-keeping to supervision, remuneration and conflicts of interest, we examine the good, the bad and the grey areas of the BID review and what brokers should take away from it. Watch the full discussion to understand what the review means for brokers and how the industry can respond.