Nick McGrath

Non-bank lender Moneytech has welcomed the Albanese Government’s $1 billion Economic Resilience Program (ERP)^[1] as a timely and important measure to protect Australian businesses from global supply chain shocks but is raising questions about why non-bank lenders have been excluded from delivering it.

The program, administered through the National Reconstruction Fund Corporation (NRFC), provides zero-interest loans of up to $5 million to eligible SMEs in fuel, fertiliser, plastics and other critical supply chain sectors. Applications are currently being processed exclusively through a small group of participating banks, with no pathway for non-bank lenders which now finance a significant share of SME lending in Australia.

Moneytech CEO Nick McGrath says the program is exactly the kind of intervention Australian SMEs need right now but its reach could be meaningfully extended by opening it up to non-bank lenders.

“This is a well-designed program tackling a real problem, and the Government deserves credit for acting quickly,” McGrath says. “Our question is a constructive one though, if the objective is to get capital into the hands of as many eligible Australian SMEs as possible, as quickly as possible, why limit delivery to the major banks?”

“Non-bank lenders are now a core part of how Australian SMEs access finance. The Reserve Bank of Australia^[2] itself has noted that the non-bank share of SME lending has grown strongly since 2022, particularly for smaller loans driven by demand from SMEs for faster decisions, more flexible criteria and funding options the majors don’t offer. Many of the businesses this program is designed to help already rely on non-bank lenders for their day-to-day finance.”

McGrath points to the precedent set during the pandemic, when non-bank lenders including Moneytech were accredited to deliver loans under the Government’s SME Guarantee Scheme alongside the major banks.

“The SME Guarantee Scheme worked because the Government recognised that a diverse group of lenders would reach a broader group of businesses. That logic hasn’t changed. If anything, the role non-banks play has grown significantly since then.”

Moneytech is not arguing that banks should be cut out, McGrath says, but that the program’s impact would be greater if SMEs could access it through the lender they already use and trust.

“This is about giving Australian businesses more choice not fewer. The SMEs running fuel distribution, logistics, fertiliser supply and manufacturing operations aren’t a monolithic group. Some bank with the majors; many don’t. A program that genuinely supports the breadth of Australian industry should be accessible through the breadth of Australian lenders.”

Moneytech also highlights the role of finance brokers, who are the primary distribution channel for SME funding across Australia and would be critical to getting a program like the ERP into the hands of eligible businesses quickly.

“Brokers are often the first call a business owner makes when conditions tighten,” McGrath says. “They understand their clients’ operations and can quickly determine whether a business is best supported by a bank, a non-bank lender, or a combination of both. Any program designed to move capital fast should be built around the channels SMEs actually use and brokers are central to that.”

Brokers were also key distribution partners during the COVID-era SME Guarantee Scheme, helping lenders – banks and non-banks alike – reach businesses that needed support quickly.

Moneytech has called for the Government and the NRFC to open consultation with the non-bank sector on how lenders outside the majors can be accredited to participate in the ERP, and will engage directly with the relevant ministers and officials.

The post Moneytech Calls for Non-Bank Lenders to be Included in the Government’s $1 Billion Economic Resilience Program appeared first on AdviserVoice.

The strategic partnership signals a shared commitment to supporting brokers in delivering smarter, faster, and more tailored finance solutions to SME businesses at a time when demand for non-bank options continues to rise.

“This partnership with Fintelligence is about arming more brokers with the tools to say ‘yes’ to business clients looking for responsive, practical funding,” said Nick McGrath, CEO of Moneytech. “We understand that access to finance can make or break an SME’s next move, whether that’s purchasing equipment, improving cash flow, or fuelling expansion. Our goal is to make that access as seamless as possible through the broker channel.”

Fintelligence has rapidly established itself as a progressive aggregator in the commercial and asset finance market, offering brokers a technology-driven platform alongside strong lender relationships. With Moneytech now on the panel, brokers can provide clients with a broader range of funding options outside traditional banking constraints.

“The addition of Moneytech strengthens our commercial panel with a lender that truly understands the needs of growing Australian businesses,” said Michael McEvoy, General Manager of Fintelligence. “Their versatility across industries and deep broker engagement make them a valuable partner for our network.”

With market conditions remaining complex for SMEs navigating rising costs and tightening credit from the big banks, Moneytech’s entry to the Fintelligence panel gives brokers a reliable non-bank pathway to support their clients.

Reece Ketu, Group Head of Sales and Distribution of Moneytech added, “This partnership is another important step in scaling our broker distribution and accelerating our growth in the non-bank market. By deepening our aggregator relationships, we’re strengthening our ability to deliver fast, flexible funding solutions to more businesses nationwide. It’s all part of our long-term strategy to drive sustainable growth and build a strong, investor-ready platform.”

The partnership is now live, with brokers across the Fintelligence network able to access Moneytech’s lending products effective immediately.

The post Moneytech partners with Fintelligence to power more tailored commercial lending solutions for brokers and SMEs appeared first on AdviserVoice.