Update: March 2010

After a difficult 2009 in which the global financial crisis greatly impacted all lenders, we at Riverside Capital Group continued supporting our clients and are advancing into 2010 with cautious optimism. With the Australian economy enduring the affects and distress caused by the global financial crisis, lending markets are only now beginning to ease.

We continue to receive development and construction finance enquiries in a market which still has strict capital restrictions in place. However, we at Riverside Capital Group have been able to successfully indentify and secure development funding packaging for our clients. This has been achieved by working through projects with our clients and industry partners utilising our unique facility structuring expertise.

2009, as a direct result of the global financial crisis and the proposed financial services industry legislation pending, saw a contraction of our industry including major banks and non bank institutions through mergers and acquisitions, international banks exiting the Australian market and finance brokers departing the industry.

Whilst the lending market was dominated by the major banks throughout 2009, we expect to see the re-emergence of non bank and other private lenders into the market place in 2010 and beyond. The major banks were well positioned to weather the tumultuous conditions throughout the financial crisis, however with other lenders re-entering the market place, this healthy competition will bring balance and benefit to our clients.