Ann: Wisr Strengthens Balance Sheet with Additional $25M Facility, page-3

Yep - this is good news, and clearly shows management being proactive during these uncertain macro times (particularly for small to medium sized lenders).

They have secured a new $25m debt facility that matures 1 July 2025 - which WZR will partly use to pay off the $6.5m facility that was to mature next year.

And they have received credit approval from another Big 4 bank for a new Warehouse facility - which further diversifies their lenders.

Also thought the comments from the WZR CFO Andrew Goodwin were great to hear (see in bold below):

CFO COMMENTARY:

Mr Andrew Goodwin, Chief Financial Officer, Wisr, said, "Given the current market conditions, diversification of scalable funding sources and balance sheet robustness is prudent.

These provide Wisr with the flexibility required to deliver profitability1 in the short term and support our medium-term growth ambitions.

Receiving institutional debt funding and credit approval from another Big 4 bank is a testament to the Wisr lending platform, our technology and processes and the continued strong performance of our prime loan book.”

Wisr is in a strong position to navigate current market conditions, protect the business from any prolonged economic downturn and deliver a profitable business.

Our confidence in the Company's resilience stems from the combination of a material reduction in operating costs, lifting yield through forward loan book rate increases to customers, moderated growth plans, the performance of our prime loan book with 90+ day arrears at 0.89% (30 September 2022) and framework already in place to manage credit quality through the cycle.".