Business Loan
Benefits:
Fast access to funds
Access capital for your clients when they need it most
Easy process
Easy, Lite Doc
approval process
Competitive pricing
Our pricing is competitive, so you can feel confident your clients are getting the best deal
Pricing and Fees
Lite-Doc - up to $1,000,000
| Caveat/Mortgage | 13.95% |
| Property Owner | 14.95% |
| Non Property Owner | 18.95% |
Loadings
| Single Director Loading | 2% |
Fees
| Establishment Fee | $495 |
| Caveat Fee | $500 per caveat |
| Mortgage Fee | $2,000 per registration |
Product Details
Product Specifications
| Non Property Owner | Property Owner | Caveat/ Mortgage | |
|---|---|---|---|
| Minimum Loan Amount | $25,000 | ||
| Maximum Loan Amount | $250,000 | $1,000,000 | |
| Repayment Frequency | Weekly | ||
| Interest Type | Fixed | ||
| Repayment Type | P&I | ||
| Term | Up to 36mths | Up to 48mths | Up to 60mths |
| Lite-Doc & Matrix Based Approval | Yes | ||
| Only Available to Businesses | Yes | ||
- SMSF / Hybrid trusts are not acceptable
Eligibility
| Non Property Owner | Property Owner | Caveat/ Mortgage | |
|---|---|---|---|
| Minimum GST Tenure | 24mnths | 12mnths | 12mnths |
| Bank Statements | 12mnths | ||
| Business Score | Equifax score min 500 | ||
| Personal Score | Equifax score min 700 | Equifax score min 550 | |
| ATO Statements | Last 6mths | ||
Acceptable Loan Purpose
| General Business Purpose | Yes |
| Refinance Existing Debt | Yes |
| Clearance of ATO Debts | Yes |
| Buyout Directors or Investors | Yes |
| Business Acquisition | Yes |
| Fit Out or Refurbishment | Yes |
| Specialised Equipment | Yes |
| Consumer Purchases | No |
| Gambling and Leisure Debt | No |
| Repayment of Shareholder or Related Party Loan | No |
Security Requirements
| Required | |
|---|---|
| General Security Agreement (GSA) | Client may opt for GSA waiver if < $75,000 and property owner. 2.50% loading will apply when GSA waived |
| Personal Guarantee & Indemnity | Required for Directors and Shareholders |
Unacceptable Industries
| * Exploration and Other Mining Support Services |
| * Electricity Supply |
| * Gas Supply |
| * Building Construction |
| * Commission-Based Wholesaling |
| * Fuel Retailing |
| * Accommodation |
| * Broadcasting (except Internet) |
| * Library and Other Informational Services |
| * Insurance & Superannuation Funds |
| * Auxiliary Finance & Insurance Services |
| * Property Operators and Real Estate Services |
| * Education and Training |
| * Heritage Activities |
| * Creative and Performing Arts Activities |
| * Gambling Activities |
Brokerage & Establishment Fee
| Brokerage | Up to 4% |
Capitalised into the loan and charged as an Establishment Fee
