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Platform Finance adds non-bank lender to panel

by Reporter4 minute read

Non-bank lender Classic Funding has been added to two lending panels.

Asset and business cashflow financier Classic Funding Group has joined the panels of Platform Finance Group and Consolidated Finance Group.

Classic Funding chief executive Paul Rathbone (pictured above) said the partnerships would “broaden” the North Sydney-based non-bank lender’s reach to more brokers.

“And I believe their business ethos has much in common with our own,” Mr Rathbone added.

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At present, the lender offers financial solutions – such as equipment finance and leasing, clean energy finance, debtor and trade finance – to small- to medium-sized enterprises, large enterprises, government bodies, and educational institutions.

Looking forward, Gavin Judd, head of sales at Classic Funding, expressed the lender’s ambition to become a “major lender” for SMEs.

Ryan Young, CEO of Consolidated Finance Group, said now is the right time for the aggregator to expand its lending panel.

“Right now, our members need more options in order to assist their clients, and I am delighted that Classic Funding Group can help with their specialist lending solutions such as second hand assets, clean energy and ATO debt,” Mr Young said.

In March, Classic Funding joined the lending panel of Connective, noting at the time that the broking community is changing with aggregators “the catalysts in encouraging new technology adoption and upskilling”. The non-bank lender anticipates an accelerated speed of change in the broking industry in the aftermath of the banking royal commission.

“We expect many mortgage brokers will look to broaden their portfolios in the future,” Mr Rathbone said in March.  

[Related: Non-bank partners with Connective]

paulrathbone ta

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