Turning hard yakka into profit
Scott Rumble, MD Yakka Finance
In July 2018, Scott Rumble joined Connective and opened his business Yakka Finance – a highly entrepreneurial brokerage specialising in commercial and asset finance for small to medium businesses. Scott’s extensive background as an asset finance Lender BDM equipment financier in the Sydney CBD has fuelled his business concept, which is already proving to be very effective.
Partnering with Connective Asset Finance has enabled Scott to hit the ground running, with the business turning a profit within the first financial year. In this article, we talked with Scott about his business idea and to find out how he took it from start-up to financial success in such a short time.
What makes Yakka Finance unique?
“My concept for the business is all about doing a thorough job in order to make the experience exceptional and effortless for the customer. Our mantra at Yakka is to never be lazy – it’s about doing all the ‘hard yakka’ for the customer so they can get on with the business of making money.
“Yakka Finance is built around a simple, yet extremely effective business structure that’s facilitated by the services and IT platform provided by Connective. It enables us to deliver an application-to-settlement experience that blows the customer away and in turn, builds great relationships, crazy word of mouth and loyal clients.
“In this game, you need to be able to speak the customer’s language, know the gear and know how they will use that gear to generate an income. The first impression is what gets you the customer and in turn, secures you the deal. You need to provide them with absolute confidence from the get-go, that they’re in great hands.
How does Connective help you?
“From the outset, Yakka Finance has specialised in financing assets for business use across a wide range of industries. We finance a lot of trucks, construction and agricultural machinery, a wide variety of business vehicles and many other types of ‘niche’ business assets.
“Connective Asset Finance have a very wide panel of suitable lenders to choose from and this gives me the ability to secure finance approvals at great rates for my customers. This ability to be competitive has really helped my business to grow quickly.
“Working within the transport, construction and agriculture industries, time is of the essence for most of our customers, so we also need agility from our aggregator. Connective’s IT Platform Mercury has a great CRM and an asset finance processing platform called BOLT, which both help me make things happen fast.
What about our support services?
As a former asset finance Lender BDM, I had many dealings with Connective Asset Finance before I became a broker. I found everyone friendly, professional and very good at what they do. My Connective Asset Finance BDM is Philip Meehan – I will always remember our first meeting when I was still deciding to start up Yakka Finance. He had full confidence in my ability to succeed, even when I had some self-doubt. He promised he would be there every step of the way, and he still is to this day.
Phil has been a huge part of my business growth. He genuinely gets involved and wants to see my business succeed. Deal scenarios, rates for specific assets, changes in banking policies, new lenders on the panel – you name it – he has an answer or will make the effort to find one for you. Knowledge is huge in our space and Phil has plenty of it. I can’t remember a time where I have called Phil with a request and he didn’t source a solution or quickly action something that benefits my business.
Have you attended any of our events?
Few aggregators invest properly in educating brokers about asset finance. I have attended many events put on by Connective and find them very informative and motivating. I’d like to attend a lot more. I am now ready to bring on more staff in my business, which will free up my time. I’m always thankful for every Connective event I do get to attend, as they are great for me and my business.
“Connective have been a huge contributor to the growth of Yakka Finance. They have a constant hunger to be better, do better, support me better. They also invest time and money in the asset finance space more willingly than the other aggregators I was looking at joining when I first decided to start Yakka Finance. And the continual advancements in their technology always reminds me I’ll be in very good hands at Connective for years to come.”