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Lender eyeing 100pc growth in 2013/2014

by Nick Bendel7 minute read
The Adviser

Commercial lender Thinktank has expanded its staff levels and may see 100 per cent growth this financial year.

Chief executive Jonathan Street said loan volumes for the first half of 2013/2014 had exceeded the previous 12 months.

“By mid-year, we expect to have exceeded $500 million in loan advances,” he told The Adviser.

“We have a new product launch coming up later this month. Early next month, we expect to announce the launch of a charitable initiative. Within the next two months we expect to finalise our first securitised deal.”

Thinktank has long-term plans to expand its product range to help brokers with self-employed and SME clients, Mr Street said.

Meanwhile, the lender has added two new staff with “a huge amount of skill in commercial property and SME finance”.

Senior relationship manager Adam Hutcheson will manage aggregators and broker groups in Sydney, Melbourne and southeast Queensland.

Relationship manager Paul Burns will handle senior level aggregator support and new commercial broker relationship development.

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