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FSA GROUP LIMITED — Capital/Financing Update 2017
Dec 19, 2017
64948_rns_2017-12-19_a4f33662-27ca-46dc-a38e-469e0117d6e3.pdf
Capital/Financing Update
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FSA GROUP LIMITED
20 December 2017
Personal loan facility extended
FSA Group offers non-conforming personal loans to assist clients with the purchase of a motor vehicle. Our personal loan pool was $40 million at the end of November 2017.
FSA Group is pleased to announce that Westpac Banking Corporation has extended its $40 million personal loan facility until 30 June 2018. We continue our discussions in relation to securing a larger long term facility to support future growth.
In our 2017 Annual Report we made the following comment in relation to our personal loans under “Strategy and Outlook”, “…For personal loans, our focus until December 2017 is to maintain new monthly originations at the current level, allow the pool to age and closely monitor arrears and losses, at which point we accelerate new origination growth…”. We plan to start increasing new monthly originations during the first quarter of calendar year 2018.
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Cellina Chen Company Secretary
FSA Group Limited Head Office Level 3, 70 Phillip Street Sydney, NSW, 2000
Phone: 1300 660 032 Fax: 1300 660 050
ASX Code: FSA