New quiver from Arrow Finance
Luke Jackson's new gig aims to dominate the short term lending market.
Wednesday, December 4th 2024, 8:51AM
Since leaving Resimac Luke Jackson has teamed up with a former Southern Cross Partners colleague Ross Brogden and launched a new business aimed at providing short term finance.
The business, Arrow Finance, has been rebranded Go Lend and has launched a peer to peer platform offering short term loans similar to the model Southern Cross and other lenders use.
Jackson said they looked at various funding options and decided using a peer to peer platform was the best.
"Ultimately it gives brokers the surety that funds are available and that there is a consistency in loan appetite."
Over the past 18 months Arrow has built up solid mortgage book through establishing relationships with a wide network of mortgage advisers. Jackson says” These adviser relationships are integral part of our business and we are looking forward to continuing assisting the mortgage advising market now through Go Lend.”
Jackson says besides lending retail investors can buy portions of mortgages loans down to as small as $1,000.
"This funding structure will enable Go Lend to achieve its growth targets while providing great returns to New Zealanders.”
While the Go Lend platform enables retail investors the opportunity to purchase mortgage loans, it is Go Lend itself that commits its own capital for loan drawdown.
Go Lend head of credit and operations, Ross Brogden, says “we appreciate the urgency needed at loan draw down time, and certainty of funding that borrowers require. This is why Go Lend will continue to initially funding loans, which gives our advisers and their clients the certainty they need.”
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