Nodifi partners have registered a record-breaking numbers for the month of June, with asset finance settlements and applications all hitting new highs.
The numbers are 33% better than the previous record-breaking month – and an increase from May of almost 100%.
Nodifi CEO Tom Caesar, says the numbers are a testament to the determination of Nodifi partners during a tumultuous period, plus the ‘behind the scenes’ heroes that make up the Nodifi credit team.
“What’s remarkable is that Nodifi partners have registered record numbers during a recession – these things aren’t meant to happen.”
“There have been contributing economical factors to the successful month – which is exciting for the months ahead in the asset finance space – but the effort put in by Nodifi partners is commendable.”
“I’m also incredibly proud of the Nodifi credit team – the influx of applications and settlements was unexpected, but the team took it in their stride and got the job done.”
The numbers are welcome good news for those in the asset finance space, with data suggesting more good news is still to come. Recent reports released by Equifax show month on month growth for the automotive sector, highlighting a return in consumer confidence.
According to Nodifi Head of Customer Experience, Tim Wells, similar growth in the months to come isn’t out of the question, in particular in the commercial asset space.
“The Equifax report supports the commercial asset finance trends we’re seeing at Nodifi – the increase of the asset write-off threshold to $150,000 back in March, along with Australia’s positive handling of COVID-19, looks to have instilled confidence among SMEs,” says Tim.
Treasurer Josh Frydenberg recently announced the extension of the $150,000 asset write-off threshold until 31 December 2020, previously set to conclude on June 30.