Cash Converters has obtained $60 million from Westpac Bank that the second hand dealer and short-term loan provider will use to grow its personal loan book.

Westpac will provide the $60 million through a securitisation program.

Cash Converters managing director Peter Cumins said there was strong demand for his company’s loan products.

“It will provide significant funds on attractive terms to enable us to increase our personal loan book,” he said.