Line of Credit
Product Guides
Benefits:
Finance when you need
Get your clients access to working capital when they need it
Only pay for what you draw
Our product allows your clients to only pay for what they draw
Supports a wide range
Designed to support with a range of business activity to keep your clients on the move
Pricing and Fees
Lite-Doc - up to $500k
| Interest Rate | Service fee | |
|---|---|---|
| Property | 9.56% | 1.95% |
| Non-Property | 11.56% | 2.95% |
Loadings
| < 2yrs GST | 2.00% |
| Single Director | 2.00% |
Fees
| Documentation Fee | $495 |
Product Details
Product Specifications
| Non Property | Property Backed | Caveat/ Mortgage | |
|---|---|---|---|
| Facility limits | $25,000 - $250,000 | $25,000 - $500,000 | |
| Minimum Revenue | $500,000 | ||
| Maximum Limits | 1 x revenue | 1.5 x revenue | 1.5 x revenue |
| Repayment Frequency | Minimum monthly repayment spread over 120 days | ||
| Interest Type | Variable | ||
| Facility Type | Revolving | ||
| Facility Review | 12 monthly | ||
| Lite-Doc / Matrix Based Approval | Yes | ||
| Only Available to Businesses | Yes | ||
* Not applicable to Northern Territory
Eligibility
| Non Property | Property Backed | Caveat/ Mortgage | |
|---|---|---|---|
| Minimum GST Tenure | 24mths | 12 months | |
| Bank Statements | 12mths | ||
| Business Score | Clear | ||
| Personal Score | Clear | ||
Eligible Invoices
| Domestic Supplier |
| International Supplier |
| Stock and Inventory |
| Materials |
| Fuel |
| Subcontractor payments |
Ineligible
| Rent |
| Wages |
| Tax payments |
| Supperannuation |
| Insurance |
Brokerage & Origination Fee
| Upfront Brokerage | 2% of facility limit |
| Trail | 0.25% p.a |
Upfront Brokerage – Payable once the account is active and client has drawn $10k
Trail – Paid monthly in arrears
Content
