Calliva hits funding hurdle
Boutique financial services player Calliva Group has been forced to stop accepting applications for its SuperAccess loan after being told by its senior funder, Royal Bank of Scotland, that its facility will not be renewed in its current format.
Calliva has specialised in lending to self-managed superannuation funds for the acquisition of commercial property.
Calliva chief executive Vince Scully said that while there would be no impact on existing borrowers, the company would not be able to access funding in the short term.
He said he expected the impact to be temporary.
Scully said that Calliva had always recognised the need for funding diversity and had been in discussion with other funders. It hopes to make an announcement in the coming weeks regarding new funding lines.
AUTHOR
Mike Taylor
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