Business loans offering gets rebrand
Avanti Finance has amalgamated with GetCapital to establish Avanti Finance Business.
GetCapital, a provider of flexible small business loans, was formerly a wholly owned subsidiary of Avanti Finance.
From December 1, it is rebranded as Avanti Finance business, operating under the Avanti brand.
Avanti Finance general manager property Ian Boyce (pictured above) said that as a subsidiary, GetCapital was already part of the Avanti family.
It made logical sense to build on the Avanti brand and have the offering rebranded, he said.
“We value the Avanti brand and thought it was time to have the offering as Avanti Finance Business,” Boyce said. “It adds strength to every part of the business and particularly to what was GetCapital.”
Notifying its networks of the amalgamation in mid-December, Avanti Finance confirmed that it would be the lender associated with GetCapital.
“The change means that the lender associated with your clients’ loans will be Avanti Finance Limited from 1 December,” the non-bank lender said.
“All other details of their current loan agreement(s) will remain the same.”
Aside from the rebranding, Boyce confirmed that there is no change to the business loan offering or the way it is accessed by advisers.
Boyce said GetCapital introducers were notified by email, supported by information provided in newsletters and Avanti Finance business development managers could help where needed.
“From advisers’ point of view there’s no change, other than a new name,” Boyce said.
Commenting on the non-bank market in November, Boyce said that despite everything that happened to customers over 2023, Avanti Finance had seen their resilience. While interest rates were up, customers had “done a great job of managing these increases” and had not taken on debt they can’t afford, he said.
Avanti Finance is the sponsor of the Adviser of the Year – Specialist Lending Award at the upcoming 2024 New Zealand Mortgage Awards. Its longstanding CEO Mark Mountcastle retired on December 15.
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