Credit Clear has secured a $6 million loan facility from ANZ to support its acquisition strategy. Credit Clear is a debt collection and technology group providing services such as debt recovery and customer communication solutions. The company said the facility marked its first financing arrangement with a big four Australian bank, providing additional flexibility as it pursues growth opportunities.
The funds from the ANZ loan will be used to support expansion following the acquisitions of ARC Europe and DTS. Credit Clear’s strategic push into European markets will also be supported by the new financing.
The loan facility is subject to annual review. Repayments are structured at $166,667 in principal per month. Security for the loan is provided by the company.
