Specialist lender Credabl has secured an AU$100 million warehouse facility with ANZ, which will enable it to accelerate its lending to clients in the medical, dental, veterinary and accounting professions.
ANZ joins other key warehouse funding participants including a large ASX listed investment management firm and other institutional investors.
Credabl provides tailored personal and business finance solutions to medical and accounting professionals. Since being established in 2017, it has originated loans in excess of $300 million.
The specialist lender was established by a founding management team with a long history and successful track record in the medical finance market. In addition to traditional distribution channels, Credabl is currently developing a digital lending platform to streamline the way in which medical professionals can access their business and personal finance requirements.
Stafford Hamilton, CEO of Credabl and Maia Financial, said the additional facility is testament to the experience and track record of Credabl in the medical finance market, as well as the infrastructure and operational support provided by cornerstone shareholder, Maia Financial, a Monash Private Capital Group company.
“For the last 25 years, members of the Credabl team have been actively shaping the professional lending market in Australia,” said Mr Hamilton.
“We are thrilled to be partnering with ANZ Bank, along with our other investors as we continue to deliver innovative lending solutions to medical professionals.”
Credabl uses proprietary technology, artificial intelligence and machine learning to take a “data rich view” of an individual’s earnings capacity.