General Finance reports growth
General Finance has reported a significant increase in lending over the past year.
Friday, August 9th 2013, 3:13PM 
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The company has registered its latest prospectus with the Companies Office. It specialises in short-term advances, secured against residential property.
The non-bank lender reports lending and receivables growth up more than $3 million over the past year, to $8.1 million from $5.6 million.
Debenture borrowings increased $1.7 million to $5.7 million and total assets increased to $9.6 million from $7.3 million.
Director James Lockie said the company was proud of registering its 10th prospectus. “After ten years, we think we know a thing or two about lending into the residential mortgage market. We must have done some things right to still be here.”
Capital was maintained at $3.1 million, with a risk-weighted capital ratio of 64%.
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