With input from numerous loan originators, financial institutions, service providers and government, the Small and Medium Sized Originators Programme (SMOP) proposal has now been formally submitted to the AOFM for further discussion.
Critically, this structure delivers a cross collateralised outcome to capital providers, but a discrete collateral outcome to Originators, along with extensive standardisation to facilitate scale and diversification while reducing costs for all parties.
With over $1.5bn of qualified funding requests received on the back of the prior discussion paper we look forward to engaging further with the market on this structure.
This structure has been developed by a consortium including Neu Capital, HHR, AMAL, Grant Thornton and Clayton Utz.
Please see the full submission to the AOFM below: