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Commercial lender joins AFG panel

by Reporter4 minute read
Commercial lender joins AFG panel

The aggregator has announced a new addition to its panel of lenders, which expands the range of commercial finance products available to its broker network.

The Australian Finance Group (AFG) has announced the appointment of asset finance lender Australian Secure Capital Fund (ASCF).

ASCF offers “first and second” mortgage products, along with SMSF loans and non-resident finance.

AFG noted that ASCF’s short-term loan products would provide businesses with finance for working capital, a commercial property purchase or vehicle, plant or equipment funding.

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The aggregator added that ASCF’s products would be available to experienced commercial finance brokers and mortgage brokers that have completed AFG’s business training pathway.

AFG’s head of sales and distribution, Chris Slater, welcomed the appointment of ASCF to the aggregator’s panel.

 “The expansion of our commercial panel continues at a rapid pace and delivers on our commitment to providing more solutions for our brokers and their customers,” he said.

“The addition of ASCF means more diversity is available to our brokers to help them support Australian SME business operators at a time when they really need it.”

ASCF CEO Richard Taylor added: “Partnering with a mortgage aggregator like AFG shows the direction that private lending is heading.

“We look forward to working with AFG and their brokers to provide them with funding solutions.”

This follows the news that the Australian Competition and Consumer Commission would not oppose the proposed $120-million merger between AFG and Connective.

A combined Connective-AFG entity would cover approximately 40 per cent of the broker channel.

[Related: Connective-AFG merger gets the go-ahead]

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