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Business lender Shift saw 23 per cent of brokers turn to them to settle business loans throughout the month of February.
This placed them equal first with ANZ, outperforming each of the other majors, banks, and non-banks.
The trends, highlighted in Agile Market Intelligence’s latest Commercial Broker Pulse also saw the second-best turnaround times among non-bank business lenders, at 1.5 days, outdone only by OnDeck at 1.2 days.
Speaking to Broker Daily, Shift’s sales director Kristian McCausland said that the reason brokers turn to the lender in droves is due to the ease of service and diverse offerings that support varying borrower needs.
“We’ve always taken a relationship-first approach with brokers to understand their needs and how we can tailor our products and technology to help them add value to their clients. Our aim is to be easy to deal with while helping brokers match their clients with the right financial products for businesses,” he said.
Shift also received decent broker experience scores. BDMs got a satisfaction rate of 85 per cent; application processes, 75 per cent, credit assessment, 75 per cent; and settlement, 88 per cent.
The broker-lender partnership is a key component of Shift’s business model. McCausland said the lender leverages the insight brokers have into client needs to drive outcomes.
“Brokers are key to our success, so the best way we can support them is by listening and providing tools to help them manage and grow their businesses,” McCausland said.
Peter Nikolaou, managing director of Peak Capital, said that the responsiveness, speed, and ease of service are major ticks for Shift.
“The process is quick, the tech works well, and they’re clear about what they can and can’t do, which saves everyone time. While the majors are still bogged down in legacy systems and slow credit processes, Shift has built a platform that removes the friction – no endless paperwork and no uncertainty around credit appetite,” said Nikolaou.
He also said two core products offered at Shift set them apart from the competition:
- Overdraft facility: A revolving limit, amortised over four years that provides more capital. It gives clients quick access to working capital, allowing them to focus on their business.
- Equipment line: Goes beyond standard asset finance. It covers tertiary items and full fitout costs, including soft costs like DA fees and consultants. That’s a big help for clients setting up or relocating their business premises.
Nikolaou said: “They’ve kept their offering simple and focused, while the majors are still slow, fragmented, and overly complex.”
Clearly, brokers are pleased with the services provided. Listening to feedback is part of this, as according to McCausland, 98 per cent of brokers in late 2024 told Shift that maintaining client relationships was their main focus for 2025, followed by finding new clients.
Relationships building and developing are top of mind and Shift has responded by expanding the support team to better help brokers manage client relationships.
“While it makes good business sense for us, ultimately it helps brokers grow their businesses by taking on more of an advisory role with their clients,” said McCausland.
The point of difference for Shift is the flexibility in offerings, said McCausland. With a myriad of products on market and lenders establishing, merging, and growing constantly, it can be hard for brokers to remain informed.
This flexibility has allowed Shift to remain competitive and outperform the majors for business lending.
“While businesses are complex and each one has its own set of priorities and challenges, we provide a flexible suite of products. This includes offering revolving facilities so that businesses can access funds when they need them and have a clear view of available capital at any point in time,” McCausland said.
“It also includes giving brokers the opportunity to initiate transactions and set up facilities on behalf of clients or give their clients the choice to, so they can transact when and how they want. At the same time, we give brokers access to a team of business finance specialists that take the time to understand the brokers they support and more importantly help them meet their clients’ long-term needs.
“We’re constantly working with our broker network to help them proactively support their clients’ needs now and in future. Brokers continued to settle an average of two business loans each month across all states and territories.”
[Related: La Trobe is getting commercial lending right]
