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Renown Lending has committed $250 million in private capital to support South Australian small businesses and the state’s construction sector through property-backed short-term finance, construction loans, cash flow support, equipment lending, and bridging facilities.
The private lender said the funding will help the state’s businesses manage rising operating costs, project delays, and tightening bank credit, citing high construction insolvencies nationwide and a growing number of small business closures.
Founder Kalpi Prasad said the initiative aims to provide builders and contractors with capital certainty, enabling them to complete projects without disruption.
He added that the funding seeks to strengthen economic confidence, encourage other private investors to reinvest locally, and help stabilise employment across construction, trades, and small business sectors.
“We can no longer wait for someone else to step in. Private capital must lead,” he said.
“South Australia’s small construction firms and family-owned businesses are fighting battles every day – high interest rates, frozen credit lines, slow approvals, and razor-thin margins.
“Our $250 million commitment is the beginning of a broader movement to give them the support they deserve.”
Renown Lending general manager Mitchell Chadevski reiterated the lender’s intention to support small businesses in South Australia.
“Small businesses and builders are the backbone of this state. Without them, nothing gets built, nothing gets repaired, and nothing moves,” he said.
“Our commitment is not just financial – it’s a statement that South Australian businesses deserve real backing, real urgency, and real partners who believe in them.”
Prasad also called on other private lenders, family offices, and sophisticated investors to join the initiative and reinvest in the local economy.
“If we want a strong South Australia, we need strong South Australian businesses,” he said.
“It’s time for private investors to step up, take responsibility, and stand by the people who actually build this state.”
[Related: New GM appointed at Renown Lending]