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The group has announced it has grown its lending capacity to small businesses, exceeding $120 million.
N1 Holdings Limited (N1H) announced that it has continued to increase its debt capital funding, with the total lending capital that the group can access and manage now over $120 million.
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According to the group, it currently holds approximately $100 million of direct lending loan receivables, a $30 million mortgage management book, and a broking trail book exceeding $210 million.
The group stated the sources of its lending capital under management are comprised of balance sheet capital, debt facilities, and capital managed under N1H’s small- to medium-sized enterprise (SME) mortgage funds.
N1H confirmed its SME mortgage funds are wholesale, property-backed pooled mortgage funds that specialise in short-term SME lending, with loans having a six- to-36-month maturity.
N1H chief executive and executive chairman Ren Hor Wong said: “Being an ASX-listed company we focus very much on strong compliance, rigid governance, accountability and transparency.
“While our pooled capital model is unique in the market, it empowers N1H’s capacity to fund deals quickly and deliver real business sense driven lending, resulting in a game-changing competitive advantage amid the complex lending environment.
“The company’s business partners, predominantly being mortgage brokers, have also expressed confidence in our diversified and resilient set of funding sources.”
Mr Wong added that the group is in regular communication with investors, HNWIs, family offices, and funds seeking to raise capital to expand N1H’s lending capacity to meet increasing demand.
Currently, the group’s SME lending and its SME mortgage funds are secured with mortgages across Australian residential and commercial real estate, primarily based in NSW, Victoria, Queensland and South Australia.
Debt facility extended
In March this year, N1H confirmed the extension of its $55 million debt facility until July 2025, along with completing the realty business divestment. The group uses its debt facility as one of the sources to fund its SME lending business.
The divestment strategy aimed to streamline the group’s business model and provide additional funding to grow its SME lending business.
At the time, the group held $90 million of direct lending loan receivables, a $36.5 million mortgage management book, and over $200 million broking trail book.
N1 holdings is a sponsor at the SME Broker Bootcamp, which takes place in Sydney today (12 September) and Melbourne (14 September)
[RELATED: N1H extends $55m debt facility]
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