Latest Consumer And Commercial Finance News

The Federal Court has imposed a $1.55 million penalty on Money3 Loans, a Solvar subsidiary, for limited breaches of the National Consumer Credit Act between 2019 and 2021. Solvar highlights strengthened governance and underwriting since the period in question.

Solvar Limited has sold its New Zealand arrears loan book for NZ$8 million, accelerating its exit from the NZ market and announcing a special fully franked dividend for shareholders.

Solvar Limited has secured a new $487 million warehouse facility and resized an existing $270 million facility, boosting its total funding capacity to around $900 million and reducing its cost of funds.

Solvar Limited reported a robust FY25 with a 17.4% increase in normalised NPAT and launched Bennji, a new commercial lending brand targeting small businesses.