Non-bank reports rapid growth

Non-bank commercial lender, Chifley Securities, has reported more than $400 million worth of loan settlements in just its first year of business.

Launched in November 2014, the non-bank lender now has a pipeline of $110 million worth of loans, almost double the $60 million pipeline six months ago.

Chifley Securities now has 2,000 accredited brokers and has paid an average of 1.1% in fees over the last year to brokers.

“We have achieved a range of milestones in our first year, in particular we have formed strategic alliances with major banks, brokers, aggregator groups and some 60 private lenders,” Director of Chifley, Joe Morello said.

“From starting with commercial property projects in Sydney’s North Shore and city-fringes, we have provided loans for commercial property projects across all mainland capital cities.”

According to Morello, the specialist commercial lender has serious growth plans for the year ahead.

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