Non-bank finance group Chifley Securities is launching a new lending division. Chifley said it aimed to target brokers and their clients across Australia "who do not have access to private lending volumes of up to A$50 million at reasonable interest rates". The Chifley Securities business will continue to provide loans from its existing high net worth backers, while the new business, to be known as Chifley Aggregation, will offer access to a wider group of "more than 100" private lenders across its platform, providing brokers with a greater chance of placing loans for their clients. Chifley Securities said in a media release that the launch of the new division follows a record year. It settled more than $1.5 billion worth of loans in the 2016/17 financial year. Among the group's main borrowers are property industry developers that no longer fit commercial banks' lending criteria, which have recently been tightened by the Australian Prudential Regulation Authority.