Well-known business development manager Jack Patel has moved to a new role with small business lender, Prospa.
Patel spent eight years at Liberty and has extensive knowledge of the small and medium sized business landscape that will be leveraged to support Prospa customers and advisers.
“I’m really excited to join the Prospa team at a time when the economy is beginning to bounce back after Covid, and small businesses are looking to grow again, Patel says.
The Prospa, headed by Adrienne Begbie, has added eight employees to the New Zealand team, bringing the total to 12.
In the most recent financial year Prospa’s loan originations reached $131.8 million, a 57% increase on the previous financial year.
Begbie says the growth in the New Zealand operation reflects the demand for financing from the small business sector, which has traditionally struggled with securing lending.
“Prospa is seeing increased demand from the small business sector for financing – everything from supporting a marketing campaign to covering wages, as well as longer-term strategic borrowing. We’re delighted to be able to step in and support this burgeoning growth,” Begbie says.