N1H enters into $35 million debt facility resulting in $70 million in SME lending capital

N1 Holdings Limited (ASX:N1H or Company) is pleased to announce that it continues to expand its SME lending capacity. Since its last announcement concerning available committed capital available for lending on 24 March 2021, the Company has raised an additional $40 million bringing the total capital available for lending to $70 million.

This additional $40 million comprises:

· $5 million raised by the Company and One Lending Fund since 24 March 2021; and

· $35 million in debt capital provided under a debt facility executed today between the Company and GCI SME Mortgage Fund (Facility). The Facility is for a term of 24 months. The Facility contains a number of customary conditions precedent for debt facilities of this type (including the registration of security interests and provision of legal opinions).

The Company’s available committed capital amount comprises both balance sheet capital and capital from its SME mortgage fund (One Lending Fund). One Lending Fund is a wholesale, property-backed pooled mortgage fund that specialises in short-term SME lending and is managed by N1H via its wholly owned subsidiary, N1 Asset Management (AFSL 477879). SME lending by the Company and One Lending Fund is secured with mortgages over Australian residential and commercial real estate predominantly based in NSW, VIC and QLD. Supporting these loans is also a strong pipeline of applications and settlements.

N1H’s Executive Chairman and CEO Ren Hor Wong says: "We are excited to be able to do more in property- backed SME lending and with quality strong deal flow coming our way, we are very confident we will be able to deliver a balanced risk-reward return to investors. We previously disclosed over $30 million in committed capital available to lend on 24 March 2021, and we are thrilled to have grown that to $70 million in a few months since that announcement. The team at N1 Holdings continues to actively raise more capital and build on our distribution channels.”

N1H is positioned as a direct lender working alongside accountants and mortgage brokers, with a focus on complex lending servicing sophisticated property investors, property developers and SME owners. The Company also runs a mortgage management business providing branded home loans and commercial property loans, N1 Plus. The N1 Plus product focuses on the niche of prime, near prime and specialist products.

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