Gerald Teh, a finance industry veteran in corporate and commercial banking, is a valuable Spotcap partner. In this Partner Spotlight, Gerald sheds light on the evolving space for alternative lending in Australia and his experience working with Spotcap.
What makes your approach to finance unique?
My background is in working capital funding for complex businesses in the large corporate space. The idea was to bring this knowledge into the SME market to help them with cash flow timing issues, such as bridging the gap between importing products from offshore to collecting cash from their clients. I thought this was an under-serviced part of the market with little expertise and it’s a space where I thought I could add real value. In addition to catering for the business, we also look to be a one-stop shop for our clients and use our networks to provide services including foreign exchange, and marine and business insurance to round out the offer.
Do you feel there is a need for Spotcap in the world of small business finance?
Banks are getting more conservative when it comes to lending. We push them to leverage the balance sheet for businesses that don’t have the required real estate support. Spotcap fills a very important part of this capital structure by providing unsecured funding to assist with working capital requirements. Quick turnarounds and transparent rate structures are of great importance to me.
What did you enjoy about working with Spotcap?
A good working relationship is important because I believe that you need to trust the people you are recommending to your client base. Spotcap’s Partner Sales Manager, Yuan Chong, was great in how quickly he got in touch with me and came down to meet. He demonstrated a genuine interest in the business we were looking to fund and did all he could to push for the right outcome. Additionally, digital signing of all documents is great because we had a director overseas and to get physical documents signed would have held up the process immensely.
Have you used an unsecured SME commercial lender before? How did Spotcap compare?
Yes – Spotcap are very transparent on the rate, which I like, and they are different from others in this space. The line of credit option is a great feature
Originally published June 26 2018 , updated July 5 2018