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Non-bank lender Assetline Capital has announced a 48 per cent increase in year-on-year loan settlements in the calendar year 2023, representing a new record for the company.
According to the lender, it has now funded over $3.1 billion in loans to its broker network since its inception in 2012.
Additionally, Assetline Capital recorded growth of 99 per cent in its Short-Term Capital Lending products, which accommodates short-term capital, SMSF, residual stock, non-resident, and refurbishment requirements.
The non-bank lender further highlighted its developments over 2023, which included office openings, product launches, and aggregator partnerships.
Indeed, Assetline Capital recently announced the launch of a new construction product – the Alt Doc Construction offering – for developers, investors, or borrowers in metro locations in need of redeveloping existing properties.
Furthermore, the non-bank lender announced in July last year that it has joined the lender panel of aggregator outsource Financial in a partnership that was slated to open a new suite of business lending options for the aggregator’s brokers.
These ranged from short-term capital funding to long-term mortgages, bridging, and construction finance.
Assetline Capital national head of sales and distribution Royden D’Vaz commented on the lender’s results: “We have seen tremendous growth in the past year, from building our sales team across the country, opening a new office in Brisbane, joining the lending panels of leading aggregators, and releasing a number of new products into the market including Clinch Bridging Loans.
“These improvements are reflected in our numbers.
“Last year we listened intently to feedback from brokers and extended our Short-Term maximum loan terms to 36 months. Extending the maximum loan term from 18 months to 36 months has provided more comfort and flexibility to our brokers and their clients.”
In terms of its outlook, Assetline Capital stated it looks to continue offering brokers “great flexibility” and cementing its position as a “trusted and innovative leader in the non-bank lending space”.
D’Vaz continued: “In the next 12 months, brokers can anticipate significant advancements from Assetline across various fronts.
“Firstly, enhanced policies within our range of products will offer brokers greater flexibility and options to meet the diverse needs of their clients. This expansion aims to cater to a broader spectrum of borrowers.
“Overall, brokers can look forward to a year of innovation and progress with Assetline, as we continuously strive to enhance our offerings, embrace technology, and refine our processes to better support the success of our broker partners and their clients.”
[RELATED: Assetline Capital launches new Alt Doc Construction product]
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