Shanta Lobo recently joined Private Mortgages Australia in the role of Senior Relationship Manager. We thought we’d take the opportunity to find out from Shanta herself what’s involved in her role and how she can help clients with short-term business finance.
1. What made you decide to join PMA?
Having been a career banker, with a history of 20 years in commercial business banking, I wanted to try something different that also complemented my experience and expertise. The role with PMA was able to offer me just that. The Senior Relationship Manager role is challenging because it’s a new environment but maintains the basic functions of a commercial lender.
2. What are you looking forward to most in this role?
I’m looking forward to learning more about the private mortgage space and working out ways to help small-to-medium businesses with their borrowing needs. I’m also excited about establishing relationships with brokers and helping to educate them about the various ways we can help their clients.
3. What do you think the key benefits of working with a private lender are?
This is lending at a grass roots level. We’re helping clients based on their individual needs and providing realistic lending solutions. The best thing is that we’re able to think outside the square and structure deals very differently to banks in order to provide more practical options for businesses.
4. What do you bring specifically to the PMA team?
With my background in business banking I bring a thorough understanding of business requirements. I have extensive knowledge relating to interpreting financials, financial projections and security structure. I also have a great network of brokers and referrers that I’m looking forward to working with in the future.
5. What makes PMA different to other lenders?
PMA recently made the decision to increase our maximum LVR to 80%. Most private lenders will generally only lend 65% to 70% LVR, and a lot of the time this is based on a forced-sale valuation rather than the true value of the security property. We always take the true value of the security property without any tricks in order to give our borrowers a better solution.
We’ve also introduced a ‘subsequent referral fee’ in order to eliminate channel conflict. This means we still pay a referrer should a borrower come back to PMA directly after taking a previous loan with us via a referrer.
At PMA we’re all about having a transparent lending process that offers greater flexibility and quicker turnarounds than traditional lenders so that a business can get the best solution.
6. What do you think is most important when maintaining good relationships with brokers/referrers?
Listening to client or referrer and understanding their requirements is absolutely paramount. Taking the time to ask questions and fully understand their individual circumstances makes the rest of the process so much simpler. It’s also important to provide prompt responses and to make quick lending decisions. Overall, by providing solutions that work for the client ensures a smooth process that everyone is happy with.
7. PMA doubled its new loan volume last financial year, why do you think this is?
I think it comes down to great service and delivering great results. We receive a lot of return business which is pretty rare in private lending but it’s something we’re extremely proud of. We’ve found that the great relationship we have with brokers means that they spread the word to other brokers in their network.
8. What are you aiming to achieve at PMA?
I’m hoping to get in touch with as many brokers as possible to find out more about their clients’ needs and educate them about what PMA is able to provide. I also think it’s important to establish a good relationship with the client directly and make them comfortable whilst maintaining a good relationship with the broker.
I’m aiming to always provide prompt and efficient lending solutions and keep on top of the entire lending process through to settlement.
To speak to Shanta about your business finance needs get in touch with her on 03 8488 9926 or