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Purple Circle named MFAA National Excellence Awards finalist

We’re thrilled to share that Purple Circle has captured industry attention once again, earning finalist status in two categories of the 2023 MFAA National Excellence Awards.

The MFAA National Excellence Awards are held annually and widely regarded as the pinnacle awards event of the Australian mortgage industry. These awards recognise the outstanding achievement of businesses and individuals across five areas of the industry.

Purple Circle is in contention for the following National Group Awards:

Being named a finalist in these categories demonstrates our standing amongst the biggest and best in the mortgage distribution sector and is a reflection of our commitment to continual improvement and growth.

We’re proud to be named for the impact we’re making in these areas of the industry. This is an achievement and a testament to the tireless efforts, dedication and exceptional work of our amazing staff and Mortgage Brokers. Their unwavering commitment to excellence is the backbone of our success.

While up against several impressive competitors, we’re hopeful and excited about securing wins in our nominated categories.

The 2023 MFAA National Excellence Awards will be held 6pm Thursday, July 27 at Crown Melbourne.

Stay tuned to see how Purple Circle fares at the event.

Small and Medium Enterprises (SME) Guarantee Scheme

The Scheme will enhance lenders’ willingness and ability to provide credit and will be available for new loans made by participating lenders until 30 September 2020.

The Government will provide eligible lenders with a guarantee of 50% per cent of new loans. Some generic terms are:

  • Businesses with a turnover of up to $50 million.

  • Maximum total size of loans of $250,000 per borrower.

  • Loans will be up to three years, with an initial six month repayment holiday.

  • Unsecured finance, meaning that borrowers will not have to provide an asset as security for the loan.

Reduced Interest Rates

Consider your current banking arrangements. The Reserve Bank has recently reduce the cash rate and lenders have passed this on to various loans they have.

Instant Asset Write Off

An increase in the instant asset write-off threshold from $30,000 to $150,000 30 June 2020.

Deferment of Loan Repayments for up to 6 Months

The banks are developing their own approach as to how to deal with requests from their clients for repayment holidays. Some are automatically granting the request, others are assessing the requests individually.