Cash Converters International has secured a new $100 million loan with Fortress Investment Group to support the lender and second hand good retailer's future growth.
The company says the new loan refinances the existing $70 million banking facility on terms that are market competitive.
"We now have the funding and banking arrangements to support future growth," Managing Director Peter Cumins said in a statement on Tuesday.
Cash Converters booked a $21.7 million annual loss in August following a $23 million law suit settlement and a major restructure of its UK operations.
In June, the company settled a class action taken by NSW borrowers who said they were slugged excessive interest. Cash Converters did not admit liability in the case.
The Fortress loan covers a five-year term, with an initial three-year loan period and an option for a two-year extension at the company's discretion.
The facility, which starts in March, allows for a drawdown of up to $100 million, compared to $70 million under the current facility, and the criteria are less restrictive.
There are no restrictions regarding Cash Converter's ability to pay dividends, and no earnings before interest, tax, depreciation and amortisation or gearing ratio covenants.
Loans originated online are unrestricted. Under the current facility, online loans were limited to a 35 per cent cap of the loan book.
Cash Converters has also signed a five-year agreement with a service provider to replace its existing transactional banking facilities. The switch is expected to be completed by July.
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