Business, financial and property services firm N1 Holdings has expanded its SME lending capacity and its AFSL authorisations.
ASX-listed business, financial and property services firm N1 Holdings has announced that it now has commitments of approximately $27 million consisting of balance sheet capital and capital from its SME lending fund, One Lending Fund.
The One Lending Fund lends capital to Australian small and medium-sized businesses located in Australia. The loans are secured by first or second ranking mortgages over property located in Australia, and in some cases, personal/directors’ guarantees will be obtained.
The group, which includes a mortgage brokerage and a lending arm, among other branches, has also expanded its existing Australian Financial Services Licence (AFSL) for its wholly owned subsidiary, N1 Venture Pty Ltd.
The expansion will enable the business to:
The group said the authorisations were a “significant milestone”, as it enables N1 Venture to provide trustee and custodial services to One Lending Fund (which had previously been undertaken by a third party).
N1H signalled that it also intends to further expand into the funds management and trustee services sector.
N1H’s executive chairman and CEO, Ren Wong, commented: “We are excited to be able to continue raising capital amid the pandemic. We are also confident that our lending and property experience will assist in growing our funds management and trustee services business.
“N1H continues to evolve in the property lending business, and we are proud to be an innovative company bringing value to shareholders, other stakeholders and the market in general.”
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