This collaboration set to expand client's access to finance facilities
Private lender Aquamore has announced its appointment to the Purple Circle panel of approved lenders. According to a news release, this partnership aims to enhance Purple Circle’s ability to provide bespoke short-term commercial finance facilities to businesses requiring larger-ticket alternative funding solutions.
“It is essential that we partner with innovative providers who offer a wide range of products and services to suit the ever-changing lending landscape. Private commercial lenders form a significant part of being able to respond to current and emerging funding requirements – especially with higher amount transactions,” said Frank Paratore (pictured above right), a director at Purple Circle Financial Services.
Paratore emphasized the strategic nature of the collaboration, stating, “[This partnership] further ensures our brokers remain equipped for diversity and in a position to harness market change.”
Matthew Porch (pictured above left), head of distribution at Aquamore, expressed enthusiasm for the partnership. “We’re thrilled to be able to collaborate with the Purple Circle network and support brokers with access to tailored commercial finance facilities,” he said.
Growing panel for client support
The announcement comes on the heels of a successful capital raise that has enabled Aquamore to increase its loan size to $7.5 million.
“[This increase] is being extremely well-received by businesses seeking funding to consolidate debt or make substantial investments. In particular, the increase supports the growing number of SMEs seeking to purchase a commercial property as part of their SMSF strategy,” Porch said.
“Private lending continues to be in demand to offset the restricted credit appetite from traditional, and increasingly non-bank lenders. Aquamore considers every deal holistically on a case-by-case basis, applying a judgmental credit approach versus being policy-based with strict credit criteria. We expect this to remain a high priority for ‘top end of town’ businesses that require individual solutions for often multifaceted deals.”
Paratore echoed these sentiments.
“Lending isn’t a one-size-fits-all situation. Clients have different requirements depending on their circumstances, and we are continuing to provide our members with a diverse panel of lenders to assist with attending to clients’ different requirements,” he said.
Established in 2016, Aquamore is an institutionally-backed private lender specializing in property-secured commercial loans.
Purple Circle Financial Services is an Australian-owned and operated boutique aggregation company, considered to be the first of its kind in Australia to offer brokers equity, while still providing the services and benefits expected from an aggregator.
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