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Australian Broking Awards 2024 Announcement

We’re delighted to announce that Purple Circle Financial Services has been selected as a finalist in FOUR categories at the Australian Broking Awards 2024!

These awards, an annual highlight in the Australian mortgage industry, celebrate exceptional achievements across key sectors. Purple Circle is honoured to be considered for the following awards:

  • Boutique Aggregator of the Year
  • Innovator of the Year (Company)
  • CRM Platform of the Year
  • Training and Education Program of the Year

This recognition highlights our leading position in the mortgage industry and our unwavering commitment to growth and excellence. We take great pride in the dedication demonstrated by our talented staff and mortgage broker members, whose commitment to excellence is evident in our continued success.

While we anticipate strong competition, we are filled with optimism and excitement about our chances in the nominated categories.

Mark your calendars for the Australian Broking Awards 2024 ceremony, set to take place on Friday, August 30th, at the Star, Sydney. Join us as we eagerly await the outcome of this prestigious 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.