Metro Finance, a prominent independent non-bank lender in Australia, has announced substantial enhancements to its commercial loan offerings for big ticket assets.
Effective immediately, the borrowing limit per individual deal has increased to $1 million, and the total loan exposure has risen to $2 million.
This marks significant growth from the previous caps of $500,000 per deal and $1.5 million in total exposure. These changes aim to support Metro's national broker network and expand commercial customers' financing options.
This strategic move further solidifies Metro Finance's position as one of the largest non-bank lenders on the market.
By increasing its loan capacity, the company aims to meet the evolving needs of small and medium-sized enterprises (SMEs) and brokers. Enhance loan limits enable a wider variety of transaction types, fostering enhanced flexibility and growth opportunities for customers.
Metro Finance CEO, David Albest (pictured), emphasised that the increase reflected the company's commitment to listening to its customers and brokers.
“With this enhanced offering, we will also bring the same depth of knowledge and high levels of service that we already provide to small ticket commercial lending. Additionally, as part of the increase we will offer discounted pricing on larger transactions to further provide a competitive alternative to traditional lenders,” Albest said.
Expanded loan offerings allow Metro's commercial customers to finance a wide range of high-value assets. These include medium and heavy commercial vehicles, construction equipment, and industrial machinery. The move is designed to cater for diverse industry needs, providing businesses with financial tools to acquire critical assets and drive growth.
Additionally, Metro Finance's commitment to sustainability has been underscored by a recent boost to its MetroEco green lending program. With an additional $50 million investment from the Clean Energy Finance Corporation (CEFC), the program's total funding now stands at $100 million. This demonstrates strong demand for environmentally friendly initiatives, enabling businesses to adopt sustainable practices cheaper.
Since MetroEco's launch in mid-2024, the program has facilitated the adoption of over 4,000 electric vehicles and financed various energy-efficient technologies. Through competitive interest discounts on eligible green assets, Metro continues to support businesses in their transition to sustainability. This highlights its dual focus on innovation and environmental responsibility.
