Powered by MOMENTUM MEDIA
the adviser logo

SME lender signs $100m debt facility

by Reporter3 minute read

davidhornery ta davidhornery ta

A new entrant in the SME lending space has secured a $100 million debt facility, which it said would broaden its offerings and “accelerate” its growth.

SME lender Judo Capital, which formally launched in March 2018, has announced the signing of a $100 million debt facility agreement with global investment bank Goldman Sachs.

According to co-founder and co-CEO of Judo, David Hornery, the facility would provide “further depth” to the lender’s funding proposition for Australian businesses.  

“Since Judo Capital launched a year ago, demand for our relationship-focused SME lending has rocketed because we take the time to fully understand the businesses we lend to,” Mr Hornery said.

Advertisement
Advertisement

“This $100 million debt facility with Goldman Sachs will allow Judo to continue to broaden our range of lending services, further accelerate our growth, and reach more small and medium-sized businesses with our services nationwide.”

Mr Hornery claimed that Judo’s ability to successfully secure the funding from Goldman Sachs is an example of the lender’s capacity to offer long-term finance solutions to SMEs.  

“Successfully negotiating a transaction of this size and significance required a highly collaborative and commercial approach,” the former NAB executive added.

“We have been consistently delighted with the quality of the engagement with the Goldman Sachs team and look forward to continuing to build that relationship into the future.

“This arrangement with Goldman Sachs further underpins Judo’s capacity to offer a real alternative – an alternative that is improving lending by making judgement-based decisions and guaranteeing to do it quicker.”

Judo’s latest announcement follows its recent agreement with global financial services firm Credit Suisse, in which Judo secured a $350 million debt facility.

In August 2018, Judo also announced that it raised $140 million from its first round of equity raising.

Initial investors include Ironbridge Capital, Canadian pension fund manager OPTrust, Myer Family Investments, the Abu Dhabi Capital Group, and Credit Suisse Asset Management

Judo has previously noted its commitment to harnessing the third-party channel, particularly brokers with commercial “acumen”.

[Related: Lender raises $140m to secure march into SME space]

SME lender signs $100m debt facility
davidhornery ta
TheAdviser logo
davidhornery ta

MORE FROM THE ADVISER

Mark hewitt

AFG GM to join MFAA board

Mark Hewitt, general manager, industry and partnership development at Australian Finance Group (AFG) will commence as...

READ MORE
Possibl co founders

Early commission payment loans open to full broker market

Following its launch of an early commission payment product to brokers using the effi platform, cash-flow solutions...

READ MORE
David Keeling

Grow expands structured finance, appoints senior partner

According to Grow Finance (Grow), David Keeling’s appointment, which commenced on 11 April, is part of a broader...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more