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.

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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.

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Nick McGrath

The Australian Government’s Clean Energy Finance Corporation (CEFC) has committed to AMP Capital’s leading sustainability credentials by investing A$100 million in the AMP Capital Wholesale Office Fund (AWOF).

Becoming carbon neutral by 2030 is just one of the ambitious long-term targets that makes AWOF an attractive investment for CEFC and other sustainability-focused investors.

Others include lifting the portfolio’s NABERS average* to 5.5 Stars by 2030 and delivering a pipeline of highly-sustainable flagship assets like Australian Technology Park and Quay Quarter Tower, which is targeting a 6 Star Green Star and 5.5 star NABERS rating once completed.

In addition, Quay Quarter Tower is pursuing certification against the leading edge WELL Building Standard to address tenant interest in boosting the productivity and wellbeing of their staff.

CEFC’s investment in AWOF shows that there is investor appetite to invest money in demonstrably sustainable portfolios.

AWOF Fund Manager Nick McGrath said: “We are really pleased to welcome CEFC as an investor in AWOF, which attracted over $700 million in equity investment in 2016. With a portfolio of 12 premium properties, AWOF is well positioned to deliver sustainability outcomes for investors such as CEFC.”

AWOF’s quality pipeline of green assets, including Quay Quarter Sydney and Australian Technology Park, are among existing premium commercial office assets such as 200 George Street in Sydney and 700 Bourke Street in Melbourne, which was recently awarded a 6 Green Star Performance rating.

This rating indicates world’s best practice operational performance and Bourke Street was only the fourth building in Australia to achieve this accolade.

Mr McGrath said: “This certification validates the excellent work of AMP Capital’s operations team, who have carried through the green principles from the design and construction phase into the ongoing operation of this building.

“Having achieved the 6 Green Star Performance rating for 700 Bourke Street, AMP Capital is now focusing on achieving Green Star Performance ratings for all other wholly-owned assets in 2017.”

CEFC Investment Funds lead Rory Lonergan said the CEFC investment in the $4.7 billion AMP Capital fund would help accelerate the development of world-leading energy efficient commercial property portfolios in Australia.

According to Mr Lonergan: “AMP Capital was selected for this mandate due to the quality and performance of the AWOF portfolio and AMP Capital’s broader commitment to achieve long-term sustainable outcomes.

“There is enormous opportunity to reduce emissions from buildings and to really push the boundaries of energy efficiency in the property sector. With this investment, the CEFC is pleased to support AMP Capital in its objective to deliver net zero emissions across the commercial property portfolio. This really sets a new benchmark for the commercial property sector in Australia.

“We are attracted to AMP Capital’s development pipeline of highly sustainable assets and its innovative approach to exploring electricity procurement opportunities to transform the energy market.”,

CEFC is looking to magnify the impact of this investment by AMP Capital sharing learnings and expertise with the broader property industry.

Sustainability is a key component of being an attractive investment vehicle, according to Chris Nunn, Head of Sustainability, Real Estate at AMP Capital.

Mr Nunn said: “Responsible investors are increasingly looking for demonstrably green assets that deliver investment returns while minimising risk. Our customers also demand high sustainability standards that support their wellbeing, align with their values and minimise operating costs.

“We pride ourselves on having a holistic sustainability strategy with ambitious long-term emissions reduction targets for our real estate assets, which in turn will influence our supply chain and benefit the broader community.”

*NABERS base building energy rating

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Mr McGrath will be responsible for delivering the strategy, growth and investment performance of the A$2.9 billion fund.

Mr McGrath is currently the Chief Executive Officer (CEO) of the AIMS AMP Capital Industrial REIT (AA-REIT), a Singapore-listed industrial REIT with total assets of S$1.1 billion and managed in a 50/50 joint venture by AIMS Financial Group and AMP Capital.

AMP Capital Head of Property Funds Management Chris Judd said Mr McGrath brings strong credentials to the role, gained from over 13 years in the Australian and Asian property funds industry. Nick is a very capable leader having held a variety of roles in funds management, capital transactions and corporate finance.

“After joining the REIT as CEO in 2009 Nick set a clear vision and compelling strategy to successfully tackle challenges the REIT faced through the GFC and deliver outstanding investment performance.

“Nick has demonstrated the ability to build a strong successful team and drive growth in the portfolio through acquisitions and significant development opportunities,” Mr Judd said.

Prior to joining the AA-REIT as CEO in 2009, Mr McGrath was the CEO of the Allco Commercial REIT (now known as Frasers Commercial Trust) and Managing Director of Allco (Singapore) Limited, where he established their real estate funds management business and was responsible for growing assets under management in excess of S$2 billion. Before moving to Singapore in 2005, Mr McGrath was a lawyer at a leading Australian law firm, Blake Dawson (now known as Ashurst).

Mr McGrath will commence his new role from 1 January 2014. In the interim, Tim Nation will continue as Acting Fund Manager.

The AMP Capital Wholesale Office Fund is an open-ended unlisted trust which offers investors exposure to high quality assets across the principal office markets in Australia and New Zealand.

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