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AFG adds new SME lender to panel

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Reporter 3 minute read

Major aggregator AFG has announced the addition of a new small-business lender to its panel.

Small-business lender Moula is the latest to join the panel of major aggregator AFG, which has more than 3,000 brokers in its network. 

The lender offers unsecured loans of $500,000 or less for up to three years, with pricing starting at an annual percentage rate of 15.95 per cent p.a. applied against the outstanding loan balance.

Moula claims that turnaround times are between one and two days, thanks to its proprietary platform that accesses customers’ financial and accounting data to facilitate faster decisions. 

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Commenting on the appointment to AFG’s lender panel, Moula chief executive Aris Allegos said: “The opportunity for AFG’s brokers to expand their offering across the SME sector is rising exponentially. 

“According to the SME Growth Index, 96 per cent of SME owners consider alternative lenders when seeking finance.”  

Keiran Evans, AFG’s general manager of commercial, welcomed Moula’s appointment to the aggregator’s panel, saying: “The addition of Moula means even more lender and product choice is available to our brokers to help satisfy the growing needs of Australian SME business operators.”

Meanwhile, AFG is amidst a major merger with fellow aggregator Connective to create a significant national mortgage distribution network with more than 6,575 brokers and combined mortgage settlements of $76 billion in the 2019 financial year.

[Related: Peer-to-peer lender joins AFG panel]

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