They have been talking about a new wholesale facility for 3 years and it hasn't happened yet.
https://hotcopper.com.au/threads/ann-propell-increases-wholesale-facility-reduces-cost-of-funds.6693254/
- Interest revenue between FY23 and FY24 was down over 30%
- The finance costs are currently exceeding the customer revenue.
- The balance sheet is $5.6m in deficit
- Current borrowings are about $9.7m with loans receivable just $6.3m. Over a $3m hole.
- Average loan size is $93k so they have less than 100 customers. I reckon about $7m loaned out for 93k each so no more than 78 customers.
It is not compelling to give them access to more funds.
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