MNY +2.26%: managed to negotiate to double its available financing facility in the auto lending book it acquired earlier in the year. The facility has been scaled up to $100m now for AFS with some substantial growth seen in the business since the book was purchased. Finance markets remain strong with MNY flagging $1b loan book in the near term, rounding out FY21 at $601m. While no detail was given terms of the updated facility, we suspect they will be more favorable. Money3 upgraded guidance for FY21 late in the year, outlook statements will likely be positive with momentum carrying over into early FY22.
MM is long and bullish MNY
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