Aquamore’s warehouse boosted to $170m

Aquamore’s warehouse boosted to $170m

Aquamore has announced the completion of a $50 million raise from a global investment bank, significantly increasing the short-term lender’s funding capacity.

The lender’s warehouse facility has now reached $170 million after the investment. The capital injection will also help support additional product enhancements along with the funding capacity for the lender.

Additionally, the lender has extended its loan terms from two years to three, along with the company increasing its portfolio parameter limits, allowing Aquamore to write larger volumes of $2 million loans.

The national business development team is also set to be extended in order to manage the predicted increase in demand for commercial finance and to maintain the lender’s service levels.

Head of third-party distribution at Aquamore, Matthew Porch, said: “To celebrate the recent facility, we are reducing the rate of our already sharply priced Low Doc product by 20BP on a three-month loan that is drawn down by the 31st December 2022 — regardless of LVR.

“In particular, we expect this will directly appeal to SMEs seeking to purchase advance stock to combat ongoing supply-chain challenges and to maximise sales over the busy summer months.”

As private lending continues to thrive, there has been a notable shift from associating the sector with “last resort funding”, with brokers increasingly turning to private lenders to offset the lack of available mainstream credit, according to Mr Porch.

“The sector is also known for its flexibility and speed of funding, which is supported through direct access to decision-makers,” Mr Porch stated.

“Interestingly, rates are becoming more competitive, and terms are being extended — which is changing the landscape of the typically higher-interest rate, short-term model that the sector traditionally is associated with.

“Aquamore is well aligned with brokers who appreciate consistency, efficiency, and transparency, and appreciate collaborating with a private lender with robust funding that adheres to best-practice standards at every level.”

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