Mainstream financial institutions serve the needs of the mainstream – makes sense right? What about if you’re not quite as straight forward as the majority – how do you gain access to financial markets then?
Non-bank lenders, who are subject to less red-tape than the banks, only make up about 1% of the market in NZ. They exist because there is a need to provide solutions to those of us who may be ‘financially excluded’ from time to time, or for people who ‘need an opportunity.’
Trends in NZ banking are forcing mainstream lenders to leave more opportunities on the table though. More people with aspirations of building wealth through property or business are being turned down as a result. This isn’t ideal.
When these facts are against a backdrop of falling interest rates, I can see non-banks becoming a little more mainstream in terms of popularity.
Simon Paris from Merchant Banking Group (MBG) joins me this episode – hope you enjoy!!
MBG operates in the ‘Non-Bank’ sector and can assist those Applicants who require ‘industry expertise’ to facilitate desired outcomes where funding difficulties are being experienced with existing banking relationships, or where their requirement does not meet the criteria of mainstream funding providers, or perhaps your Advisor has been unable to arrange an acceptable solution.
MBG can assist in identify financing structures, refinance existing facilities, or negotiating an outcome with existing funders on your behalf when things don’t go according to plan and you find yourself ‘up against it’.