N1 Holdings Limited (ASX: N1H or the “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 1 July 2021, the Company has raised an additional $20 million in debt capital bringing the total capital available for lending to $90 million. The additional $20 million is an increase of the Company’s previously announced $35 million debt facility, bringing a total debt facility limit to $55 million. The original debt facility limit has been drawn to its full capacity.
The Company’s available committed capital amount comprises balance sheet capital, the debt facility 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 seeing strong deal flow coming our way since lockdowns lifted, we are very confident we will be able to deliver a balanced risk-reward return to investors. The new limit is a testament to the quality of our deals as well as our capacity to deploy the capital. We previously disclosed over $70 million in committed capital available to lend on 1 July 2021, and we are thrilled to have grown that to $90 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.