Spenda Secures $50m debt facility as cash receipts grow
- IT services and lending company Spenda (SPX) reports $693,000 in cash receipts for the June quarter, marking a 10 per cent increase on the prior quarter
- This takes cash receipts for FY22 to $2.3M, which represents a 107 per cent year-on-year growth
- The company’s lending portfolio remained stable with a balance of $12.1M as of June 30, and further capital is expected to be deployed thanks to a new debt warehouse facility
- The $50M facility was announced today for a three-year term, and the platform believes it will help to accelerate business growth
- The company shares are down 17.65 per cent to 1.4 cents per share at 1:49 pm AEST
