Attendees at the MFAA’s industry leading New Commercial Workshops will also have free access to two high quality online learning modules to continue the momentum for mortgage brokers looking to branch into business and commercial lending.
Designed to further extend the solid foundation workshop attendees will receive, the courses will be available at any time on the MFAA Learning Hub with unlimited access.
The first course, Commercial Ready, details the core principles of business and commercial lending including loan types, what lenders look for in loan applications, and how mortgage brokers can build a referral network for commercial lending.
The second course, Financial Statement Fundamentals delves into financial statements in the context of banking and credit.
MFAA Executive, Member Experience and Partnerships, Melanie Kafka said business and commercial lending is a huge opportunity for mortgage brokers.
“Business and commercial lending can protect a business from relying on a single source of revenue, allow brokers to provide new services to existing clients and also build a wider network and gain new clients.
Speaking about the online courses, Ms Kafka said they were a fabulous asset for workshop attendees as an ongoing resource and reference point to solidify the information discussed.
Facilitated by experienced commercial finance brokers David McCleery from MCP Financial Services and Todd O’Neill of Xenium Finance, the one-day MFAA New Commercial Broker workshop is being held across the country throughout October.
From explaining terminology specific to commercial lending, to commission structures for these types of loans, the comprehensive workshop will give brokers thinking about business and commercial lending the confidence they need to get started. The workshops are also suitable for mortgage brokers with up to three years of experience in business and commercial lending to extend their knowledge and education in the sector.
Using real case studies, attendees will learn how to read business financial statements and what questions to ask to dig beneath the surface and really understand how a client’s business is performing.
“The skills mortgage brokers have in terms of relationship building and listening to what their clients’ goals are and telling their story to lenders, also apply to business and commercial lending. These workshops and courses are about leveraging those skills and providing the technical skills specific to commercial lending,” said Ms Kafka.
“And, the variety in the types of business and commercial lending means brokers starting out don’t need to do it all at once. You can start with car or asset finance for example, and then begin offering other services such as commercial property or invoice financing later on to further diversify your portfolio.
With a number of commercial lenders brokers can access in the market, the workshops will also feature a lender expo so mortgage brokers can make connections and see what types of products are out there.
The MFAA New Commercial Broker workshop costs $75 for MFAA members, $100 per person for non MFAA-members.
