In a rapidly evolving broking landscape, commercial broking has invigorated the industry with many mortgage brokers now upskilling to better service clients and create stronger businesses.

Recognising the unique challenges and opportunities within commercial broking, NAB is leading the charge to equip brokers with essential skills and knowledge through its innovative and tailored Commercial Lending workshops.

NAB’s Executive Commercial Broker & Equipment Finance Sales, Chris Thomas says NAB is prioritising broker education in 2024 by rolling out NAB’s Commercial Lending workshops, designed to support brokers successfully develop their commercial broking skills to drive better outcomes for their customers.

“Commercial broking requires a different skill set to mortgage broking. Commercial clients, on average, will have three separate business finance needs per year. In contrast, home mortgages are typically reviewed only once every two to three years,” says Chris.

“After a successful pilot program last year, we rolled out these comprehensive lending workshops to encourage more brokers to enter the path to commercial broking. We’ve held 15 workshops and received an NPS rating of 95 which we’re proud of,” Chris added.

Finance Manager at RFS Finance Cristina Liddle, and Founder of The Lending Therapist Leath Margrie understand first-hand the benefits of quality broker education in response to evolving industry dynamics and share their recent experiences attending NAB’s Commercial Lending workshops.

Elevating broker expertise through practical workshops

With nearly 20 years of finance and broking experience, Cristina Liddle chose to attend NAB’s lending workshop to help her build her business and serve her clients with a more holistic offering.

“NAB’s lending workshops helped me to understand the mechanics of the overall commercial lending process and painted a whole-picture approach. The session involved discussing real-life examples and role-playing scenarios to help us understand what a NAB assessor may be looking for, which was extremely unique,” says Cristina.

“It was evident throughout the workshop that NAB is invested in the future growth and long-term objectives of small businesses. By helping us understand NAB’s credit appetite and approval process more holistically, I can ask my customers the right questions to structure their business loan applications more efficiently,” she added.

Facilitated by NAB executive leaders and award-winning credit coaches, NAB’s Commercial Lending workshops give brokers an opportunity to gain financial risk and credit assessment skills. This enables brokers to examine business cash flow statements and assess a borrower’s ability to meet obligations, discuss financial performance and cash-flow positions with clients, structure and present concise financial analysis commentary supporting NAB credit submissions, and ensure faster turnaround times.

Arming brokers with the knowledge and tools to better service their customers

Leath Margrie, Founder at The Lending Therapist has been in the lending industry for over 20 years and is passionate about leaving ‘no stone unturned’ when providing financial solutions to his clients.

Leath says the expertise and knowledge presented throughout the session and in the participant workbook, combined with the hands-on nature of the session stood out as a key highlight that delivered a high-value, educational experience.

“As a broker, knowing how NAB thinks and understanding NAB’s credit appetite is key to reducing time to decision. NAB taught me how to think like a commercial broker, giving me the skills and knowledge to better understand my customers,” Leath added.

“The thought and preparation that went into these workshops really shows NAB’s commitment to the broker channel. The team at NAB showed genuine care in supporting brokers, and it is evident they are taking the time to invest in brokers, clients and their business by providing quality broker education,” says Leath.

Brokers also receive a take-home guide that breaks down each segment of the workshop and serves as a useful tool for brokers to refer to.

“The guide lays out the nitty gritty elements of commercial lending, and highlights what you need to include when you’re putting together proposals. It’s a handy guide and a vital resource,” says Cristina.

NAB is committed to the ongoing development and upskilling of brokers, so they can adapt their skillset and service different types of customers.

“We understand the importance of ensuring brokers can meet the needs of business or self-employed clients, and NAB’s workshops play a critical role in ensuring brokers have the skills to be able to provide these additional services,” says Chris.

If you would like to participate in NAB Commercial Broker’s Lending Workshops, please reach out to your dedicated NAB BDM to register your interest.