Meet Peter Cuskelly: Decades of Banking Experience Helping Australian Businesses Access Finance

Tell us about your education and qualifications.

I completed my Bachelor of Business in 1988—was it really that long ago?

Since then, I've become a CPA and continued studying throughout my career. I've completed a Diploma of Finance and Mortgage Broking Management, a Graduate Certificate in Applied Finance, and countless training courses and continuing professional development programs along the way.

The finance industry never stands still, so ongoing learning has always been important to me.

How did your career in finance begin?

I actually went straight into the workforce from high school and completed my degree part-time while working.

My first job was with State Bank Victoria, which is now part of the Commonwealth Bank. I worked in personal loan collections, which gave me an early understanding of lending and the financial challenges borrowers can face.

From there, I spent many years working across different areas of banking and finance, which has given me a broad perspective on how lending works from both the lender's and borrower's side.

What motivated you to join PMA?

Before joining PMA, I was working as a broker.

To be honest, I was becoming frustrated with bank credit assessors asking questions on loans that should have been approved. I could see viable borrowers being delayed or declined because decisions were being made strictly according to policy rather than common sense.

When the opportunity came to join a lender that could apply commercial judgement and take a more practical approach to credit decisions, it was something I was very excited about.

How has your banking background helped you understand the challenges SMEs face?

Having spent decades working in banking, credit, and broking, I've seen how lending policies have evolved over time.

Many business owners have strong businesses, valuable assets, and clear plans, but they don't always fit neatly into a bank's lending criteria.

Because I've worked on both sides of the process, I understand what banks are looking for, where applications can run into trouble, and how funding can often be structured differently to achieve the right outcome.

A big part of what we do at PMA is finding solutions for borrowers who make commercial sense but don't fit the traditional lending box.

What's the biggest misconception business owners have about getting a loan?

The biggest misconception I hear, particularly from brokers, is that private lending rates are too expensive.

While private lending isn't the right solution for every business, people often focus purely on the interest rate rather than the overall outcome.

Sometimes the cost of not obtaining funding can be much greater than the cost of the loan itself. If funding allows a project to proceed, a settlement to occur, or a business opportunity to be captured, then it can deliver significant value despite a higher interest rate.

What types of borrowers do you typically help?

We help a wide variety of businesses.

That includes retail businesses, trade businesses, property investors, developers, and many other SME operators.

One of PMA's strengths is that no two deals are treated the same. Every application is assessed on its own merits and according to the borrower's individual circumstances.

Can you share a recent success story?

One that stands out involved a broker we’d previously worked with who actually came to us as a borrower.

A major bank advised them shortly before Christmas that it wouldn't be able to meet settlement on a property purchase. Naturally, they were under a lot of pressure.

Because we'd worked together before, they knew exactly what information we needed and provided it immediately. That allowed us to move quickly, settle the loan on time, and save the purchase.

Interestingly, it took the bank another two months to approve the loan. Once that happened, they refinanced and repaid the PMA facility at the end of the three-month prepaid term.

It's a great example of how speed and flexibility can make all the difference.

What sets PMA apart from other private lenders?

I'm incredibly proud of our team.

From the first conversation, our Relationship Managers take the time to understand each scenario and work out how the loan can be structured to suit the borrower's needs.

Because every application is different, it's important to have experienced people involved from the outset who can identify solutions rather than simply apply a checklist.

Our credit team also works hard to complete due diligence efficiently so approvals and settlements can happen as quickly as possible.

How do you stay ahead in a constantly changing finance industry?

I've always enjoyed new technology and staying informed about changes within the industry.

I regularly attend seminars, complete training, and read updates from various industry sources.

We also place a lot of value on feedback from our broker network. We frequently ask brokers for their thoughts on our policies and processes to ensure we're continually improving and staying ahead of market needs.

What advice would you give business owners considering a loan?

Always read the fine print.

It's important to understand the full cost of a loan over the entire loan term rather than focusing on a single figure.

If you're unsure about anything, seek advice from a broker, accountant, or solicitor who can help you understand exactly what you're signing up for.

What do you enjoy most about your role?

Helping business owners secure a loan when it simply makes sense but the mainstream banks won't help.

At the end of the day, what motivates me most is finding practical solutions that help businesses move forward.