N1H boosts SME lending capacity to $115 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 30 May 2022, the Company has received commitments for an additional $15 million in debt capital resulting in the total lending capital that the Company can access and manage exceeding $115 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 specialises 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: "The industry and mortgage broking community are seeing growth in alternative lending, especially in the property-backed sector that enables SME owners to tap into property equity for more affordable and flexible SME financing. N1H’s recent divestment of its property management business to streamline its business model and this new increased funding capacity will propel N1H’s growth in alternative lending. The pooled capital model empowers N1H's
capacity to fund deals quickly, a game-changing competitive advantage amid the rising rate and complex lending environment.”

N1H is positioned as a property-backed SME lender working alongside accountants and mortgage brokers, with a focus on complex lending servicing sophisticated property investors and SME owners. The Company also runs a mortgage management business providing branded home loans and commercial property loans, N1 Plus. The N1 Plus product focuses on the niche of prime, near prime and specialist products.