Money3 Corporation: Increases funding capacity

Money3 Corporation Increases funding capacity

• Money3 Corporation (MNY) has increased its funding capacity to $665 million, after securing a new mezzanine facility
• The $64 million facility is for the Money3 business unit, which will help grow funding capacity for the arm of business to about $365 million
• The move will further diversify MNY’s funding base, with six funding partners comprising of major international and Australian banks
• In addition, the company has $230 million in available funds to grow its loan book over $1 billion
• Shares are trading 5.11 per cent lower at $1.77 each just before market close