WA Finance Business Yes Loans Changes Hands as Former Trainee Buys Iconic Brand from John Hughes
For immediate release
One of Western Australia's best-known finance businesses has entered a new chapter, with Yes Loans officially acquired from the John Hughes Group by former employee and Perth finance entrepreneur Goran Babac.
After spending 15 years working his way from trainee finance broker to General Manager, Babac has purchased the business where his career began, creating a WA-owned lending group alongside fintech lender MoneyBuddy and finance brokerage Loans123.
The acquisition marks the end of an era for the John Hughes Group, which established Yes Loans as one of Western Australia's recognised names in consumer finance, while positioning the business for significant investment in digital lending technology and future growth.
Babac said taking ownership of the business was both a personal milestone and an opportunity to build on a trusted WA brand.
"This is where my career started, so to now own the business is incredibly special," he said.
"Yes Loans has built a strong reputation helping Western Australians access finance, and we're excited to take that legacy into its next chapter."
Together with childhood friend and business partner Trent Cray, Babac now leads three complementary finance businesses Yes Loans, MoneyBuddy and Loans123 which employ 25 staff, with plans to grow the team to 40 by the end of the financial year.
The acquisition comes as more Western Australians seek finance to manage rising living costs, with demand increasing for smaller, faster loans to cover unexpected expenses including vehicle repairs, household bills and other essential costs.
"The reasons people borrow have changed," Babac said.
"We're seeing more people needing finance for life's essentials rather than discretionary spending, and they expect the process to be fast, transparent and straightforward."
The expanded group is investing heavily in technology across all three businesses to improve customer experience and reduce approval times.
MoneyBuddy is currently developing technology designed to reduce application-to-funding times to as little as 60 seconds by December 2026, while Yes Loans and Loans123 are introducing new digital systems to streamline document collection and lender communication across more complex finance applications.
Babac said despite advances in technology, people remain at the centre of the business.
"Technology should make lending easier, but it should never replace the personal service customers expect," he said.
"Our goal is to combine the trusted reputation of Yes Loans with the innovation of a modern fintech business."
The acquisition strengthens the group's position across personal, vehicle, business and equipment finance while signalling continued investment in Western Australia, with additional local jobs planned as the business expands.
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