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Non-bank eyes growth

Staff Reporter 4 minute read

Staff Reporter

National Finance Club is aiming to double its business by June 2011.

The group’s general manager Andrew Clouston said NFC’s sale to Firstfolio last month should open new business pathways.

“The sale provides access to a broader range of products, services and networks for NFC and we are in the process of finalising details which will be announced in early 2011,” Mr Clouston said.

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“This will reinforce the strong inroads our team of business development managers has made into building our business and also takes advantage of borrowers’ increasing appetite to borrow from non-bank lenders.

“Certainly the turning tide against the banks, combined with our ability to offer competitive loans for the borrower backed by personal service for brokers, has helped us steadily increase our business month on month.”

Mr Clouston said loan volumes had risen 17 per cent between June and September, which is 350 per cent more than loans written in January, 2010.

Volumes between September and December 2010 increased by 16 per cent – 400 per cent higher than January 2010.

“Brokers and consumers alike have been searching for an alternative and we are pleased that our products and service approach has been able to deliver benefits all around,” he said.

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