Beforepay Secures New $100m Facility for Growth
Key points
- Funding capacity increased by 82% to $100m
- Materially reduced borrowing costs by 3-4 percentage points
- Three-year term offers long-term funding certainty
Full summary
Beforepay Group Limited (ASX: B4P) announced that its subsidiary, Beforepay Finance Pty Ltd, has entered into a new $100 million senior secured asset-backed revolving credit facility with Australian Commercial Mortgage Corporation Pty Ltd. The facility increases funding capacity by 82% from $55 million, provides materially improved pricing, and offers a three-year term. The new facility is expected to reduce annual funding costs by over $1 million and will support the continued expansion of both Pay Advance and Personal Loan products.
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