Alternative lender Aquamore has expanded its low-doc Aquamore Gold loan product to include commercial property and vacant land securities.
Aquamore first launched the product for residential property-backed securities on 1 July to expand its footprint in the low-doc lending segment.
Aquamore announced the new expansion in response to positive broker feedback of the product being “fast, flexible and built for real-life scenarios”.
It comes amid an expansionary phase for Aquamore, having been added to Moneyquest’s lender panel following a $50 million expansion of its warehouse facility earlier this year, which increased Aquamore’s capacity to fund short-term commercial loans.
Aquamore’s MoneyQuest panel addition, meanwhile, reflected the latter’s plans to provide brokers with greater access to short-term funding solutions for small and medium-sized enterprises (SMEs).
Adrian Fisher, MoneyQuest’s general manager of business development, said in July: “Private lending has grown significantly over the past few years, driven by tighter credit policies and market demand for alternative finance solutions. Increasingly, businesses are motivated by speed to funds, structured strategically.
“Aquamore’s consistent and transparent approach aligns with our commitment to supporting brokers with reliable lending solutions.”
