Launching a new kind of brokerage

Mortgage broker Cara Giovinazzo had a busy 2021. She founded and launched Borro, a Queensland-based brokerage that allows customers to compare, apply and save on a wide range of finance loans from one site.

“A lot of time and effort went into launching it, as it was really important to me that the brand reflected the core values of the business and was able to grow into a trusted name within households across Australia,” said Giovinazzo, who was recently named one of MPA’s Elite Women for 2022.

Borro combines personal loans, asset finance and commercial finance for home loan customers to find the right outcome for their needs. It offers an online application portal and a live, 24/7 home loan tracker, which is used in conjunction with experienced mortgage brokers and customer service managers.

“This ensures our clients have the latest information through our technology and automation, but always maintain the personal touch of having real people looking after them, from their first appointment until settlement of their loan and beyond,” Giovinazzo said.

She said that she hopes Borro will be servicing clients nationally within 12 months, with brokers available in every capital city to meet clients personally and a team of phone-based brokers serving the rest of Australia.

Giovinazzo said that women are a key part of the Borro team.

“I have been able to mentor women entering the finance industry and I am proud to say over 50% of our business is made up of female employees,” she said.

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Giovinazzo said that in the year ahead, she will be focused on the impact of rising interest rates and trying to mitigate the associated financial stress for clients.

“Some people may not have room to reduce spending and may be forced into mortgage stress,” she said. “It’s important that we, as an industry, are sympathetic to people in this position and have information ready to assist them where we can.”