---
title: Kalpi Prasad Commits $400 Million to SME Lending in Australia
description: Non-bank lender Renown Lending operates across four Australian cities with asset-backed loans and 24-hour term sheets.
author: Darie Nani (Editor-in-Chief)
date: 2026-02-24T16:21:29.000Z
updated: 2026-03-31T13:00:54.331Z
canonical: https://www.sovereignmagazine.com/article/kalpi-prasad-commits-400-million-to-sme-lending-in-australia
categories: Finance
content_type: Spotlight
region: Australia
publication: Sovereign Magazine
about:
  - type: Person
    name: Kalpi Prasad
    description: Founder of Renown Lending. 25-year veteran of Australian banking, private credit and structured lending.
    jobTitle: Founder
    worksFor: Renown Lending
---

Kalpi Prasad, founder of non-bank lender [Renown Lending](https://www.renownlending.com), has expanded the firm’s funding pool to $400 million for asset-backed loans to Australian small and medium-sized businesses. The company operates from Adelaide with national reach across Sydney, Melbourne and Perth, issuing term sheets within 24 hours and offering property-backed loans starting at 8.99% per annum.

## Non-Bank Demand at Record Levels

Non-bank lending demand among Australian SMEs reached 55% in the first half of 2025, an all-time high according to ScotPac’s SME Growth Index. The share of businesses planning to use bank lenders dropped from 42% to 30% in the same period. The Reserve Bank estimates non-bank lenders now account for around 11% of business lending nationally.

Tightened bank credit policies and increased ATO enforcement have left viable businesses (those with substantial property equity but temporary cash flow constraints) with limited options. Renown lends against that equity directly, using first and second mortgages on residential, commercial and industrial property.

‘Too many business owners are being told “no” by traditional lenders and forced into borrowing at extreme rates,’ Prasad says.

## Loan Terms and Limits

Residential security in Sydney and Melbourne metro areas supports loans up to $10 million at 70% loan-to-value ratio. Commercial and mixed-use properties qualify for up to $3 million at 65% LVR. Land in major metros supports up to $5 million at 50% LVR. Interest-only terms run from three to 36 months with establishment fees between 1.75% and 1.85%.

Applicants submit either an accountant’s declaration or three months of trading statements and BAS returns. Acceptable security includes houses, strata units, warehouses, factories, offices, retail spaces and light industrial property in eligible areas across NSW, VIC, QLD, SA and WA. Loan purposes range from fit-outs and inventory to tax timing, debt consolidation and general business purchases.

‘Many of these businesses are fundamentally viable,’ says Mitchell Chadevski, Renown’s General Manager. ‘The issue is liquidity, not solvency.’

## How the Capital Was Built

Renown secured an initial $100 million through a partnership with Chris Krotiris (Principal at Marlbury Capital, former deputy CEO at Samaras Group), then committed $250 million specifically to South Australian small businesses and builders before expanding the pool nationally to $400 million. The firm has also launched white label and wholesale funding programmes for mortgage brokers seeking to offer non-bank products under their own brand.

Hajarah Zahoor, Renown’s Business Development Manager, is based in London and focused on international capital partnerships. The firm’s lending book remains domestic.

## Australia’s Private Credit Market at $188 Billion

Australia’s private credit market has grown to roughly $188 billion. One in four SMEs now plan to use some form of private credit to fund business investment. Regulatory expansion of the Consumer Data Right to non-bank lenders from 2026 will bring them into the same data-sharing framework as banks. Non-bank lending is no longer an alternative channel.

Whether Renown’s thesis (that businesses turned away by banks are underpriced credit risks, not bad ones) holds at scale will depend on discipline as the book grows. But the demand side is not in question.

## In case you were wondering…

**Q: Can you borrow against assets in Australia?**
Asset-backed lending allows business owners to borrow against property they already own. In Australia, non-bank lenders offer first and second mortgage products against eligible residential, commercial and industrial property at loan-to-value ratios between 50% and 70%. This is distinct from unsecured business lending, which does not require property security but carries higher interest rates and shorter terms. The key requirement is sufficient equity in the property being used as collateral.

**Q: What are the 5 C’s of lending in Australia?**
Australian lenders assess borrowers against five criteria: character (credit history and reputation), capacity (ability to service debt from cash flow), collateral (assets offered as security), capital (the borrower’s own equity) and conditions (the purpose of the loan and the broader economic environment). Non-bank lenders weight these differently from banks, placing greater emphasis on collateral value and less on the borrower’s existing banking relationship.

**About Renown Lending**

Non-bank private credit lender providing structured financing to Australian small and medium-sized businesses. Operates from Adelaide with national reach across Sydney, Melbourne and Perth. Asset-backed loans from 8.99% per annum with 24-hour term sheets.

[Website](https://www.renownlending.com)