Lender reports "sharp fall" in hardship applications (Australian Broker)

Non-bank lender Firstmac has reported the number of new applications received for COVID-19 related hardship arrangements has fallen faster than the group expected. According to Firstmac managing director Kim Cannon, a “full analysis” of the trusts in its $12.8bn loan book have shown the impact of the crisis is not accelerating in the way investors feared at the outset of the pandemic.

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29 Mar 2020

Canberra urged to keep credit flowing to non-bank lenders (The Australian)

Non-bank lenders are urging the federal government to ensure that they have adequate funding ­access on a similar footing to the banking sector, as measures to keep credit flowing are rolled out to help shield the economy from the COVID-19 impact.

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