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N1 HOLDINGS LIMITED — Capital/Financing Update 2023
Sep 6, 2023
65401_rns_2023-09-06_1d90389e-4f9b-4f3e-ad52-a83484e132d2.pdf
Capital/Financing Update
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7 September 2023
N1H SME lending capacity exceeds $120 million
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 capital for lending on 17 March 2023, the Company has continued to increase its debt capital funding resulting in the total lending capital that the Company can access and manage exceeding $120 million.
The Company currently holds approximately $100 million of direct lending loan receivables, $30 million mortgage management book and a broking trail book of over $210 million.
The sources of the Company’s lending capital under management comprise of balance sheet capital, debt facilities and capital managed under the Company’s SME mortgage funds. The Company’s SME mortgage funds are wholesale, property-backed pooled mortgage funds that specialise in short-term SME lending, typically provide loans with a 6 to 36 month maturity and are managed by N1H via its wholly-owned subsidiary, N1 Asset Management (AFSL 477879). SME lending by the Company and its SME mortgage funds is secured with mortgages over Australian residential and commercial real estate predominantly based in NSW, VIC, QLD, and SA.
N1H’s Executive Chairman and CEO Ren Hor Wong says: "Being an ASX-listed company we focus very much on strong compliance, rigid governance, accountability and transparency. While our pooled capital model is unique in the market, it empowers N1H's capacity to fund deals quickly and deliver real businesssense driven lending, resulting in a game-changing competitive advantage amid the complex lending environment. The Company's business partners, predominantly being mortgage brokers, have also expressed confidence in our diversified and resilient set of funding sources.”
Mr Wong also says: "We are in regular communication with investors, HNWIs, family offices and funds, seeking to raise capital to expand our lending capacity to meet increasing demand."
Authorised for release by the Chairman.
For more information, please contact:
Ren Hor Wong
Chairman & Chief Executive Officer [email protected]
About N1 Holdings Limited (ASX: N1H)
N1 Holdings provides strategic advice to businesses, project developers and property investors seeking new capital/debt or refinancing existing debt. We assist borrowers through the complex application processes of Australian major banks, private funds, and offshore debt capital providers. With the growth in lending from non-traditional sources, such as alternative banks and non-bank funders and lenders, N1H’s domestic and foreign strategic relationships perfectly places it to advise its clients through this changing lending environment and debt market. N1H’s core services include business lending, crossborder corporate financing, project funding, fund trustee services and vendor finance solutions.
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N1 Holdings Limited ABN 44 609 268 279 Address: Suite 502, 77 King Street, Sydney NSW 2000 Phone: 02 9262 6262 Fax: 02 9299 1286 Email: [email protected]