Private credit growing in Australian loan market

“Loans that had been the core of what bank lending was for decades, that were suddenly unable to be serviced by the banks,” Chris Wyke, co-founder and co-chief executive officer of MA Financial, told Australian Broker. “And then you have an aging demographic that wants access to regular income, at maybe higher returns than a bank. And you’ve got in effect this mix for private credit to thrive. You’ve got the supply of loans, and you’ve got the supply of capital, the demand for that.”