Banjo Loans
Banjo Loans is an Australian non-bank lender providing business finance for small and medium-sized enterprises (SMEs). Publicly launched in 2015 and headquartered in Melbourne, Victoria, the company offers unsecured and secured business loans and asset finance products. It distributes its products primarily through a broker network and operates as a fintech lender.
History
Banjo Loans was launched in 2015 by former National Australia Bank (NAB) executives Andrew Colliver, Julian Hedt and Stephen Murphy.[1] Colliver had previously served as NAB's Managing Director of Business Performance in corporate, institutional and specialised banking.[1] The company was established to provide faster and more accessible working capital finance to Australian SMEs, an underserved segment that had historically relied on major banks with lengthy approval processes.[1]
In 2022, Andrew Colliver transitioned from his executive role to a non-executive director position on the board. The company concurrently reported 200 per cent growth in its outstanding loan book over 12 months.[2]
By 2025, Banjo Loans reported writing more than $200 million in loans annually, with approximately $1 billion in total loans originated since inception. In April 2026, the company appointed Simon Beckett — a former senior executive at GE Capital, Cerberus Capital and Wells Fargo Australia — as its non-executive chairman.[3][4]
Products and services
Banjo Loans provides business finance products to Australian SMEs, requiring borrowers to have been operating for a minimum of two years with annual turnover of at least $500,000.[5] Its core product categories are business loans and asset finance, offered in loan amounts ranging from $20,000 to $2 million.[5]
The company's business loan products include working capital loans with flexible repayment terms (weekly, fortnightly or monthly) and an express loan product designed for low-documentation applications. In 2024, Banjo increased the maximum limit for its Express Business Loan from $250,000 to $500,000, citing increased demand from SMEs seeking unsecured finance.[6] Asset finance products are available for the purchase of equipment and other business assets.
Banjo does not generally require property security for its loan products; instead, the company uses a proprietary credit assessment model that draws on business financial data, transaction history and third-party data sources.[5]
Operations and distribution
Banjo Loans distributes its products predominantly through a network of finance brokers and mortgage brokers. The company joined the Connective aggregator lender panel in May 2022.[7]
The company's technology infrastructure is built on Microsoft Azure. Banjo Loans uses multiple data sources for credit decisioning, with the aim of reducing application processing times relative to traditional bank lenders.[8]
Research and publications
SME Compass Report
Since 2022, Banjo Loans has published an annual research report — the SME Compass Report — examining the economic conditions, growth strategies and financial challenges facing Australian SMEs. The report is based on surveys of small business owners across Australia.
The SME Compass Report has received coverage in Australian trade publications including Australian FinTech and Inside Small Business.[9][10] The 2025 edition of the report was cited by the Reserve Bank of Australia in its October 2025 Bulletin article on small business economic and financial conditions, which referenced Banjo Loans survey data on SME challenges in accessing finance and trends in broker origination.[11]
Banjo Barometer
Banjo Loans also publishes a quarterly report called the Banjo Barometer, which tracks SME loan application volumes, approval rates, arrears and sector-level lending activity drawn from the company's own loan book data.[11] The Barometer has been cited in trade publications as a measure of conditions in the Australian SME lending market.[12]
Leadership
Guy Callaghan has served as Chief Executive Officer of Banjo Loans, having worked in the finance sector in Australia and internationally for more than 25 years.[13] Simon Beckett was appointed non-executive chairman in April 2026. Beckett previously held senior roles at GE Capital, Cerberus Capital and Wells Fargo Australia, and holds non-executive directorships at Heartland Group and ORDE Financial.[3]
References
- ↑ 1.0 1.1 1.2 Redrup, Yolanda (16 September 2015). "Former NAB execs raise millions to take on big four in small business loans with Banjo". Australian Financial Review. Retrieved April 2026. [Paywalled — afr.com/technology/former-nab-execs-raise-millions-to-take-on-big-four-in-small-business-loans-with-banjo-20150916-gjo0bc]
- ↑ Kane, Annie (22 December 2022). "Banjo appoints new CRO to replace co-founder". The Adviser. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ 3.0 3.1 "Banjo Loans appoints highly respected finance executive Simon Beckett as its new Chairman". Australian FinTech. April 2026. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ "Banjo Loans appoints former Wells Fargo exec as chairman". Australian Broker News. April 2026. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ 5.0 5.1 5.2 "Business Loans". Banjo Loans. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ "Banjo doubles Express Loan limit amid strong demand". The Adviser. 5 September 2025. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ Kane, Annie (1 June 2022). "Banjo expands to Connective panel". The Adviser. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ "Banjo Loans plucks data from the cloud, reduces risk, tunes up for growth". Microsoft Australia News Centre. 2022. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ "Inflation tops SME worries as rising costs threaten growth plans: Banjo Loans". Australian FinTech. March 2026. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ "How SMEs are battling cashflow challenges, according to new SME Compass report". Inside Small Business. 23 March 2025. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ 11.0 11.1 Harvey, Nick; Lai, Sharon; Spiller, Josh (23 October 2025). "Small Business Economic and Financial Conditions". Reserve Bank of Australia Bulletin. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ "SMEs fuel modest growth amid cautious borrowing – Banjo Barometer Q1 FY26". Australian FinTech. November 2025. Retrieved April 2026. Check date values in:
|access-date=(help) - ↑ "Banjo Loans CEO shares 2025 wishlist for SMEs". MPA Magazine. 12 December 2024. Retrieved April 2026. Check date values in:
|access-date=(help)
External links
Category:Financial services companies of Australia Category:Financial technology companies Category:Companies based in Melbourne Category:Non-bank financial companies Category:2015 establishments in Australia
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