The initiative designed to support a handful of SMEs has now ended with the non-bank lender announcing the fourth and last donee.
A Vietnamese restaurant located in the Melbourne satellite suburb of Sunbury has received a $5,000 donation from Oak Capital under its Pay It Forward initiative, thus bringing the non-bank lender’s donation scheme to a full circle.
“Here’s our final Pay It Forward winner, District 3429 in Sunbury! Nick Green was able to catch up with Ami yesterday to present their cheque just in time for their reopening this Friday,” read a post published by Oak Capital over LinkedIn announcing the decision last week (21 October).
“A big congratulations to Ami and the team at District 3429, as well as their nominating broker Richard Cayad from Property First Mortgage Solutions.”
Initially announced in August, Oak Capital’s Pay It Forward initiative was a scheme designed to support any small and medium-sized enterprises (SMEs) experiencing financial difficulties due to COVID-19 lockdown restrictions.
Under the initiative, mortgage brokers were invited to nominate their SME clients over August and September to receive a $5,000 donation from the non-bank lender.
The first two recipients, which were announced in September, were Body Reflexion, a personal training gym that was founded seven years ago in the Melbourne suburb of Ringwood, and the Southern Highlands cafe Potter’s Pantry Bundanoon.
The third winner, announced this month, was the indoor playground and rock climbing centre Funtopia.
Sam Nichols is a journalist at The Adviser and Mortgage Business. His reporting has featured in a range of outlets including ABC News, SBS' The Feed, and VICE.
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