In an ASX announcement, Centrepoint Alliance said the new facility includes a 30 per cent increase in the facility limit to $189 million and “lower interest margins and facility fees”.
It also said the finance facility will have “greater capacity for domestic and larger commercial loans and an increase in the facility term to two years”.
Centrepoint Alliance managing director John de Zwart said the company was pleased Bendigo and Adelaide Bank have joined with its existing banking partner, NAB, to provide an expanded finance facility on improved terms.
Chief executive of Centrepoint Alliance Premium Funding Bodd Dodd said the business in well positioned and continues to “enjoy long term support from its intermediaries whilst building new relationships”.
“This increased funding allows us to meet our medium term growth objectives and the improved terms recognise the strength of the business,” said Mr Dodd.
This announcement follows the recent distribution agreement Centrepoint Alliance signed with insurance broking group Steadfast and the renewal of a premium funding agreement with Insurance Brokers Network Australia (IBNA).
