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SMEs grow loan volumes for Interim Finance

Interim Finance has reported a big boost in loan volumes for SMEs since the beginning of the new financial year, attributing the shift to a number of market factors.

The short-term lender increased its loan volumes by 31 per cent for amounts over $100,000 to SMEs since 1 July, noting a substantial increase in the demand for first mortgage and caveat loans.

Interim Finance operations director Trent Littleford said the volume growth can be attributed to a number of factors, including the buoyancy of the Sydney and Melbourne markets.

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“In a frenzied property market, many homeowners are experiencing significant capital growth and elevated levels of equity in their real estate holdings,” he said.

“With room to burn, businesses are more readily accessing their equity as their leverage arrangements become more attractive to credit providers.”

Mr Littleford said given the increasing restrictions to investment lending, the group is seeing an emerging trend of cash being directed into business ventures ahead of property.

He also noted that more lenders are finally throwing their support behind the growth of the SME sector.

“This seems logical given the depth and presence of SMEs in Australia,” he said.

“Greater attention to this sector assists not only existing businesses, it encourages new entries and gives greater impetus to those with that entrepreneurial flair.”

SMEs grow loan volumes for Interim Finance
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