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Newcastle Permanent to supply online lender and "mortgage disruptor" Athena Home Loans with an initial $300 million in home loan funding NEWCASTLE Permanent has joined forces with Athena Home Loans, with the Hunter-founded building society supplying the Sydney-based "mortgage disruptor" an initial $300 million in home loan funding. The Perm, in its 117th year of operations as one of Australia's largest mutual organisations with $11 billion in assets, and the comparatively new online lender Athena announced the strategic partnership in the national home loan market on Wednesday. Under the agreement, Newcastle Permanent will supply Athena with an initial $300 million in home loan funding with the potential for future transactions and a broader partnership. A statement from the Perm said it was able to seize the opportunity when it presented itself due to the organisation's "strong liquidity and capital reserves built over a numb…

OnDeck Australia targets young and unsecured By Shaun Drummond OnDeck Australia chief Cameron Poolman says there is a big opportunity for the new business lender to satisfy demand from emerging entrepreneurs who cannot offer up a home as security for a bank loan. Cameron Poolman, local chief executive of US online business lender OnDeck, says it wants to be a mainstream business lender, not just a small alternative.CREDIT:LOUIE DOUVIS The local arm of one of the biggest of the new online business lenders, OnDeck Capital, quietly began lending in Australia two weeks ago, seven months after establishing its third office outside the United States. In Australia, banks don't lend to small business without security – usually the family home. But Mr Poolman said apart from the existing 2.1 million small businesses, there is emerging demand from an increasingly entrepreneurial younger generation who have no home to offer as security. …