Plenti Group Limited announced it has established a second warehouse funding facility to support growth in renewable energy and personal loan originations. The new facility will support the growth of Plenti's lending activities while also materially improving the unit economics of the loans it funds. Plenti expects the majority of new renewable energy and personal loan originations to be funded by the new facility, while its marketplace platforms continue to provide important sources of capital and funding diversification. The initial facility size of $100m has been set to provide an appropriate balance between funding capacity and cost. As the loan portfolio scales, the facility is expected to be upsized, subject to funder approval. The facility has an 18-month availability period and has a funding cost of approximately 3.0% per annum on a fully drawn basis, significantly lower than the company's existing funding sources for renewable energy and personal loans. The warehouse facility has a minimum 5% equity funding requirement. Additionally, Plenti announce documentation has now been completed in relation to the upsizing of its secured automotive loan warehouse facility to $275m from $150m. Funder credit approval of this upsizing was announced with Plenti's H1 FY21 results, released on 18 November 2020.