In the early days of the GFC, many second-tier finance companies in Australia pulled back and quit lending. That left the majors with the ability to tighten credit terms, to increase margins, and to knock back all but the most solid applications. They’re still doing it, but the pendulum is showing the first signs of swinging back.
The market has absorbed a few issues of securitisation of residential property mortgages, but it’s more relevant to those of us with the need to finance equipment that the likes of Capital Finance, GE Capital, and Bank of Queensland are back with renewed interest in motor vehicle finance. That will hopefully extend to other assets soon.
In the meantime, deals for Medical Equipment Finance are still getting done, albeit slowly, because credit managers are still looking for reasons to deny applications.