Jonathan Fulton – Mortgage Broker & Credit Adviser – Director of A2Z Finance Solutions
Jonathon Fulton is a self-employed Mortgage Broker of 15 years, having previously worked as a Commercial Loans Manager for First Capital Securities and as the Queensland BDM for Phoenix Financial Group. He works closely with accountant partners, and tends to secure most the new business through referrals. His business offers a full loan broking service of both residential and commercial facilities. In particular, he specialises in the construction and development funding arena and operate in both the Redland Shire and the Logan region working closely with the local business community to provide Finance Solutions for all.
1. Why do you work with OnDeck?
I find that OnDeck is great for SME clients who are looking for short term business cash flow finance that enables them to take advantage of a growth opportunity or an additional contract and require funding quickly.
2. What was your most challenging, complex or memorable deal? Tell us about it.
We were seeking cash flow finance for a Civil Project Development Company. With OnDeck, we were able to secure finance based on three months of bank statements evidencing multiple debtors with a minimum of four deposits per month, with a clean spread of debtors.
3. What do you think of the recent changes to the government’s Instant Asset Write Off scheme?
In my opinion it’s a positive for business owners looking to upgrade or replace vehicles or other assets…we certainly saw an increased uptake prior to 30 June 2019 and I’m sure this will take off again in 2020.
4. What advice would you give to brokers that don’t currently use specialist lenders?
Just give it a go! If you have clients that could benefit from cash flow funding, the process is simple and straight forward and OnDeck offer great service to assist you get the deal done.
5. Here at OnDeck we support all local businesses, small and medium – What is your favourite local business?
My favourite business this month is Civil Project Developments at Redland Bay, they are expanding quickly, and I have been able to assist them with various facilities over the past few months to purchase vehicles, an excavator and the OnDeck cash flow facility to aid with expansion.
6. What turned you onto specialist lenders?
The onerous bank requirements for funding can be a slow process…so when looking for swift and practical solutions based on real-time business income and cash flow then the specialist lenders like OnDeck can provide this type of solution.
7. Which of your clients have required a specialist loan and why?
I have provided numerous clients with chattel mortgages and commercial vehicle loans but more recently I ventured into the specialist short term business loans arena and have been able to assist Civil Project Developments just recently with a specialist loan that allowed them to expand into additional contracts. They are a relatively new business trading for just over 12 months.
8. Has specialist lending improved your referral relationships?
Yes, I am now talking to my accountant referral colleagues about short term business lending. I also discuss specialist lending at my business network referral group meetings.
9. What have been the key benefits of using specialist lenders?
The speed of funding is a real benefit – three days from application to funds in the bank and again the local BDM support makes the whole process smooth and streamlined.
10. How do you help your SME clients understand the different types of finance facilities available to them?
I am a member of MNG Redland Bay which is a business networking group, and I give presentations explaining the differences between standard secured facilities and quick, easy short term lending that doesn’t require the bricks and mortar security of traditional lending.