For commercial property developers, time is money. Delays can stall projects, disrupt timelines, and cost millions in lost opportunities.
Yet for decades, one of the most basic requirements in property development - the bank guarantee - has been slow, cumbersome, and buried under paperwork.
Avenue Bank is changing that. As Australia’s first and only bank dedicated solely to guarantees, it’s a digital-first institution built to deliver fast, fair, and fuss-free solutions for Australian businesses.
With bank guarantees in under 24 hours, developers can focus on what matters most: keeping projects moving.
A bank built for speed & convenience
Avenue Bank was created with a clear mission: to eliminate the frustration and delays of traditional bank guarantees.
“Our founders, Colin Porter and Dale Hurley, had experienced firsthand how painful the traditional system could be,” said CEO Peita Piper. “They needed a bank guarantee for their business, CreditorWatch, and found the process extremely frustrating. They thought, ‘There has to be a better way.”
Their solution was bold. To control the speed and reliability of bank guarantees, the founders realised they had to provide them themselves - and that meant becoming a bank.
“So, they assembled a team of banking professionals and embarked on the licensing process,” Ms Piper said. “It was a long and rigorous process, working with APRA, but in March 2024, Avenue Bank officially received its unrestricted banking licence.”
Today, Avenue Bank is a fully licensed, government-guaranteed bank under the Financial Claims Scheme, specialising exclusively in bank guarantees.
“We saw a clear problem in the market, recognised that becoming a bank was the only way to solve it properly, and then did exactly that.”
A specialist model
Avenue’s difference lies in its single-minded focus. Unlike the big four banks, it does one thing and does it exceptionally well.
“Our business is intentionally simple,” Ms Piper said. “We’re proud to be a niche bank. We’re not trying to be everything to everyone.”
By concentrating solely on bank guarantees, Avenue delivers a process that is fast, digital, and seamless.
“The process with traditional banks could take four to six weeks, involving multiple paper forms, in-person checks and branch visits,” she said. “At Avenue, we’ve completely reimagined the process. Not only is it faster, it’s also hassle-free - everything is done online from the comfort of your own home or office.”
Guarantees Made Simple
Avenue Bank has streamlined every step to eliminate the bottlenecks that traditionally hold up projects.
Avenue Bank Guarantees are available for all common purposes - lease, performance, project, and more - covering the full spectrum of commercial property and business needs. The process is designed to be accessible: no director guarantees, or property security are required, and eligibility simply requires a valid ABN or ACN for corporate trustees.
Applying for a guarantee takes minutes, not weeks:
- Applications can be completed online in as little as five minutes.
- Customers receive a draft bank guarantee immediately for review to share with beneficiaries.
- A term deposit account is automatically created once details are confirmed.
- The final guarantee is issued the same day once the deposit is funded.
- All guarantees are 100% cash-backed, and security deposits earn interest of up to 3.5% p.a.
“Developers are busy people, focused on delivering projects, and we’re proud to take the pain and hassle out of securing a bank guarantee,” Ms Piper said.
“Once developers experience the Avenue process, they don’t want to go anywhere else for their bank guarantee needs.”.
Ready to get your project moving? Find out more here
