Wave Money expands into SMSF and commercial

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AS BORROWER scenarios become increasingly nuanced, brokers are looking for lending partners capable of delivering solutions outside the confines of standard policy. For Wave Money, that reality has shaped the business from day one. Founded to support borrowers whose needs are often underserved by traditional lenders, Wave Money has built its reputation around simplifying more complex lending scenarios, particularly for self-employed borrowers, investors and customers using company or trust structures. Now, the lender is extending that same philosophy into two new growth areas: self-managed super fund (SMSF) lending and small-ticket commercial lending. According to Wave Money founder and managing director John Flavell, the expansion is less about launching new products and more about evolving alongside broker and customer needs. “Wave Money was established to deliver solutions for customers that otherwise were finding it difficult to have them met through many bank and non-bank lenders,” Flavell says. “That logic is as sound today and possibly sounder than it was when we started the business.” At the core of the Wave Money proposition is the belief that complexity is no longer niche. “What many lenders call complex, we simply call common,” Flavell says. Wave Money estimates that as much as 20% of the market sits outside traditional lending parameters, whether that’s self-employed borrowers, borrowers with multiple income streams, gig economy workers or investors using more sophisticated ownership structures.

Wave Money is an independently owned Australian non-bank lender focused on helping brokers deliver solutions for borrowers whose needs may not be met by traditional lenders. Founded by a team of seasoned mortgage and finance experts, Wave Money leverages deep industry knowledge and experience to deliver exceptional service and positive outcomes for its broker partners and their clients. The business combines direct access to experienced sales and credit teams with a common-sense approach to lending across nuanced borrower scenarios. By pairing technology with human discernment, Wave Money aims to be a trusted partner for brokers navigating increasingly complex borrower needs.

John Flavell, Wave Money

Rather than treating those scenarios as exceptions, the lender has built a model specifically designed to deal with nuance. “Lending is nuanced,” Flavell says. “Products and policies are a wireframe; they’re a starting point. What borrowers need is someone who can understand the full context behind their circumstances.” That philosophy also extends to the broker experience. From inception, Wave Money has placed a strong focus on building deep broker relationships through direct access to decision-makers and a partnership-led service model. “Relationships, service and contact don’t go out of style,” Flavell says. “The more complicated the environment becomes, the more valuable those things become.”

“SMSF isn’t niche any more; it’s becoming an increasingly important opportunity for brokers”

“Small-ticket commercial is one of the biggest untapped opportunities already sitting inside broker databases”

Wave Money is extending its broker-first and common-sense lending approach into SMSF and small-ticket commercial lending as broker and client demand continues to grow

Published 15 Jun 2026

SMSF lending: simplifying a growing opportunity That same thinking sits behind Wave Money’s decision to enter SMSF lending. While SMSF lending has traditionally been perceived as specialist or complex, Flavell believes growing consumer demand and significant market opportunity make it a natural extension of the Wave Money model. “SMSF isn’t niche any more; it’s becoming an increasingly important opportunity for brokers,” he says. Australia now holds more than $4 trillion in superannuation assets, with approximately $1 trillion already sitting inside self-managed super funds. At the same time, many borrowers remain significantly underprepared for retirement. “There’s a strong logic around property and leverage inside super,” Flavell says. “People increasingly want to take a more proactive approach to building wealth for retirement, and property continues to play an important role in that.” Wave Money believes brokers are well positioned to support that demand, particularly given the overlap between existing residential clients and SMSF opportunities. The lender sees simplification as the key gap in the current market. “People like the idea of SMSF lending, but they think it’s too complex,” Flavell says. “And brokers often say the same thing.” Wave Money’s approach is focused on making SMSF lending simpler and more accessible for brokers through flexible servicing structures, direct engagement with the lending team, and a pragmatic approach to income verification. The lender will support newly established funds, fund-only servicing scenarios, and structures involving additional contributions from members. Importantly, the servicing philosophy mirrors the broader Wave Money approach that many broker partners are already familiar with. “Our whole approach is about making the seemingly complex simple,” Flavell says. “It’s the same DNA we apply across the rest of the business.”

Small-ticket commercial: extending the broker relationship The second major expansion area for the lender is small-ticket commercial lending, another space Flavell believes aligns naturally with its existing customer base. “Seventy to eighty per cent of our customers are self-employed businesspeople,” he says. “A large proportion of those customers operate from small commercial premises.” From panel beaters and cabinet makers to cafes, medical practices and small industrial operators, many business owners eventually reach the point where they want to purchase the premises they operate from rather than continuing to pay rent. According to Flavell, traditional commercial lending can often feel unnecessarily intimidating for residential brokers. “Small-ticket commercial is one of the biggest untapped opportunities already sitting inside broker databases,” he says. Wave Money’s approach is deliberately narrower and simpler. The lender is focused on metropolitan properties only, with loan amounts capped at $1.3 million and LVRs up to 80%. By simplifying the parameters, the lender believes it can support the vast majority of small commercial borrower requirements, while making the process more accessible for brokers. “If you can take the same approach to small commercial as you would for a residential investor, then you can make it simple and straightforward,” Flavell says. Wave Money will also offer alt-doc and lease-doc commercial solutions, providing flexibility for self-employed borrowers and investors seeking diversification beyond residential property. For brokers, Flavell believes both SMSF and commercial lending represent significant opportunities already sitting within their existing client bases. “The opportunity for brokers is delivering more solutions to the same clients,” he says. Looking ahead, Wave Money sees the expansion as part of a broader evolution of the business – not away from its core identity but deeper into it. “We don’t want customers to have to go elsewhere to have their needs met,” Flavell says. “If we can help brokers deliver more solutions, strengthen their relationships and build better businesses, then that’s a good outcome.”

Find out more

PODCAST EXCLUSIVE: Wave Money extends into SMSF and commercial lending

In this latest episode, we discuss how Wave Money is applying its 'Complex Made Simple' approach to SMSF and commercial lending

John Flavell, Wave Money

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