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The facility will help the non-bank lender provide secured and unsecured lending options for consumers and small and medium-sized enterprises.
Non-bank lender Finance One has secured a senior warehouse facility for up to $300 million with Barclays Bank’s Australian division.
The facility provides secured and unsecured lending solutions to consumers and small and medium-sized enterprises (SMEs) and will be managed by financial services firm Barrenjoey.
Finance One said the facility would improve its capacity to provide flexible lending options tailored to the needs of consumers and SMEs.
The lender also said that it planned to grow its product range and would be entering the mortgage market in the 2026 financial year.
Speaking to The Adviser on plans to expand into mortgages, Finance One CEO Darren Cantor said: “We plan to use our 15 year’s experience in the non-conforming asset finance space to enter the mortgage market servicing a similar customer set.
“While there’s several lenders focusing on non-conforming customers, to truly offer niches and support underserviced customers, you have to have deep experience assessing risk and we can bring that to the market.”
Commenting on the new facility, Finance One described it as a “significant milestone” in the company’s commitment to expanding flexible lending options that promote financial inclusion for those underserved by banks.
“We are incredibly proud to have Barclays involved, a global leader in finance,” Cantor said.
“This facility will significantly bolster our ability to provide genuine alternative lending solutions to meet the growing demand of the non-conforming sector in Australia.”
Garbutt, Queensland-based Finance One offers business, personal, vehicle, and car loans, often through lending options designed to accommodate applicants with bad or no credit history.
It also provides tailored lending options covering asset and equipment finance and cash flow loans.
Finance One uses a broker network and has loaned over $1 billion, with more than 25,000 active loans.
[Related: Pallas Capital launches $185m construction warehouse facility]
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