Azora’s ascent in asset finance
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Azora’s rapid expansion and its dedication to working with brokers have cemented the company’s position as a top player in the commercial finance industry and set it up for future success
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AZORA ASSET FINANCE is a fast-growing auto and equipment finance lender that has gained a reputation for its comprehensive range of financing options and exceptional customer service. Through its focus on cultivating strong partnerships with brokers, Azora has been able to expand its product offerings and reach a broader client base, resulting in substantial growth in recent years.
Azora Finance Group is an SME-focused non-bank lender specialising in residential home loans and auto and equipment finance for small business owners and self-employed borrowers, a highly underserved segment of the Australian lending market.
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Embracing the risk-based pricing model they instilled at Pepper Money, which enables the financing of a wide range of borrowers, some of whom do not meet the traditional lending criteria set by banks and other financial institutions, Azora has adopted a similar approach to commercial lending. This approach allows the lender to offer highly competitive rates to borrowers with lower risk, while still providing financing options to those considered higher risk. This aligns with the company's commitment to fair and responsible lending practices and to meeting the diverse needs of a wide range of small business customers.
Patrick Tuttle, Azora
Azora's personalised and case-by-case approach challenges traditional lending practices and provides the lender with a fresh perspective on small businesses. This approach has attracted the attention of brokers and positions Azora as a genuine alternative to mainstream lenders.
In particular, while many lenders impose a deposit requirement or rate loading on non-homeowner customers, Azora supports non-homeowners who have decided to invest in their businesses rather than their homes.
"Given the current market conditions of rising inflation and interest rates, Azora provides a genuine alternative to customers, allowing them to retain surplus funds for working capital purposes for their businesses,” says Holmes.
“Non-homeowner customers of brokers often face challenges when seeking financing from traditional lenders, but Azora offers a viable alternative. By using Azora, brokers can now give their non-homeowner customers a real choice of retaining cash in their business without being penalised with higher interest rates or having to meet prohibitive deposit requirements typically requested by other lenders.”
Azora prides itself on continually gathering feedback from its broker partners through surveys and other means in order to consistently improve its products and services.
“We recognise that our broker partners are essential to the success of our business, as they are the ones interacting with customers on the front lines,” says Holmes. “Therefore, we prioritise gathering their input and finding ways to implement their ideas and suggestions. As a company, we believe that valuing and actively seeking out the perspectives of our broker partners is crucial to our ongoing success.”
Its flagship no-doc product, Streamline, is geared towards businesses with ABNs for two years or more. For businesses with ABNs in the six- to 24-months range, Azora offers the Kickstart product. Additionally, the company's Adverse product is specifically tailored to businesses that have paid or unpaid defaults, which provides these customers with greater access to credit. Azora is committed to rapid decision-making, with turnaround times of less than 24 hours for all products.
"At Azora, we prioritise speed-to-decision and strive to say 'yes' as often as possible, providing brokers with the confidence and reliability they need to support more of their customers,” says Holmes.
Azora's extensive product offering is complemented by its exceptional customer service and support. The company's sales team, made up of highly skilled business development professionals, work closely with brokers to provide the necessary support and guidance to meet their clients' financing needs. The credit, settlements and sales support teams are known for their approachability and proactive, responsive approach, which has helped brokers close more deals and grow their businesses. This collaborative and flexible approach allows brokers to have confidence in Azora's products and services and offer their clients the most suitable financing options.
"At Azora, we understand that people are the cornerstone of our business. While we leverage technology to streamline our processes, it is ultimately the dedication and care of our team members that has contributed to our success,” says Tuttle. “We value the relationships we have built with our brokers and their clients and are committed to providing them with the highest level of service and support. At the end of the day, it is our people who truly drive the success of our company."
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“By using Azora, brokers can now give their
non-homeowner customers a real choice of retaining cash in their business without being penalised with higher interest rates or having to meet prohibitive deposit requirements typically requested by other lenders”
"At Azora, we understand that people are the cornerstone of our business. While we leverage technology to streamline our processes, it is ultimately the dedication and care of our team members that has contributed to our success”
Azora’s rapid expansion and its dedication to working with brokers have cemented the company’s position as a top player in the commercial finance industry and set it up for future success
Azora’s rapid expansion and its dedication to working with brokers have cemented the company’s position as a top player in the commercial finance industry and set it up for future success
A history of success
Azora is expertly led by a team of seasoned professionals, including Patrick Tuttle and David Holmes, who have a renowned history in the industry. As the former CEO and COO, respectively, of Pepper Money, Tuttle and Holmes were instrumental in the development and growth of the non-conforming home loans market in Australia and played a pivotal role in the establishment and ongoing success of Pepper Asset Finance, which remains a dominant player in the market today.
David Holmes, Azora
Shifting the paradigm
Embracing the risk-based pricing model they instilled at Pepper Money, which enables the financing of a wide range of borrowers, some of whom don’t meet the traditional lending criteria set by banks and other financial institutions, Azora has adopted a similar approach to commercial lending. This approach allows the lender to offer highly competitive rates to borrowers with lower risk, while still providing financing options to those considered higher risk. This aligns with the company's commitment to fair and responsible lending practices and to meeting the diverse needs of a wide range of small business customers.
Homeownership in decline
Innovative products tailored to the needs of brokers and their customers
Streamline
Kickstart
Adverse
Having recently secured an extendable $130m senior warehouse funding facility with a major Australian bank, Azora has further plans to expand deeper into the asset finance industry in 2023 and beyond.
"In order to support our growth, we have made strategic investments in both our people and technology,” says Tuttle. “One such initiative is the launch of a dedicated broker portal in early 2023, which will introduce automation to our decision-making process and enhance the overall experience for our brokers. This demonstrates our commitment to continuously improving and evolving our services in order to better serve our clients."
In response to input from brokers, Azora introduced three new products this year that cater to various customer tiers and profiles:
Source: tradingeconomics.com; Australian Bureau of Statistics
66%
64%
68%
2016
2018
2020
2022
*According to Trading Economics’ global macro models and analysts’ expectations
Rate of homeownership in Australia
A bright future for Azora
Azora has experienced exponential growth over the past three years, positioning the company for continued expansion in the commercial finance market. Hence, now is an opportune time for professionals to become accredited with Azora and join the company's growth trajectory.
Reach out to Azora’s state managers:
Mitchell Stanmore
State manager – NSW/ACT
0450 963 590
mstanmore@azora.com.au
Gary Harpur
State manager – Qld/NT
0407 599 765
gharpur@azora.com.au
Rebecca Milverton
State manager – Vic/WA/Tas/SA
0411 691 990
rmilverton@azora.com.au
67.4%
66.2%
66%
64%*
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63%
65%
67%
IN Partnership with
Azora's personalised and case-by-case approach challenges traditional lending practices and provides the lender with a fresh perspective on small businesses. This approach has attracted the attention of brokers and positions Azora as a genuine alternative to mainstream lenders.
In particular, while many lenders impose a deposit requirement or rate loading on non-homeowner customers, Azora supports non-homeowners who have decided to invest in their businesses rather than their homes.
"Given the current market conditions of rising inflation and interest rates, Azora provides a genuine alternative to customers, allowing them to retain surplus funds for working capital purposes for their businesses,” says Holmes.
“Non-homeowner customers of brokers often face challenges when seeking financing from traditional lenders, but Azora offers a viable alternative. By using Azora, brokers can now give their non-homeowner customers a real choice of retaining cash in their business without being penalised with higher interest rates or having to meet prohibitive deposit requirements typically requested by other lenders.”
Azora prides itself on continually gathering feedback from its broker partners through surveys and other means in order to consistently improve its products and services.
“We recognise that our broker partners are essential to the success of our business, as they are the ones interacting with customers on the front lines,” says Holmes. “Therefore, we prioritise gathering their input and finding ways to implement their ideas and suggestions. As a company, we believe that valuing and actively seeking out the perspectives of our broker partners is crucial to our ongoing success.”
