Ensuring you have the right equipment to grow.
Hassle free borrowing with limits starting at $50,000 up to $250,000
Money in the account is only half the job done. Use the funds for whatever your business needs. Pay suppliers, pay staff or paying down debt can all be done with the revolving line of credit.
Moneytech’s line of credit facilities go hand in hand with Moneytech’s Invoice Finance, Trade Finance, Equipment Finance & Term Loan Facilities. This is all handled in real time via Moneytech’s portal, the Moneytech Exchange.
Click on the application button below and you will be redirected to our application form or speak to your broker
The application takes about 15 minutes to complete. Once we have received the application, we will review and reply to you within 48 hours*
You can use the facility to pay any supplier to your business, including:
You cannot use the facility to pay the following:
You can repay Moneytech however you like, with BPAY, EFT, Direct Debit or even via your credit card. The facility is a revolving line of credit, however there are minimum repayments required.
The repayment terms (minimum payments) for the Moneytech Facility is 33%, 33%, and 34%. After we fund the invoice payment using your facility, the first minimum payment of 33% will be due on the 28th of the following month. The next 33% will be due on the 28th of the next month, and the final 34% on the 28th following. Normally due payments will be direct debited from your nominated bank account on the due date (28th of each month) however EFT, BPAY and Credit Card payments prior due date is also available.
A line of credit is pre-determined borrowing limit that you can use at any time to pay for supplies to your business (see answers to question 4). As you make repayments to this facility, you are able to re-draw on that payment right away, which is why a line of credit is considered a ‘revolving’ facility.
You will get access to the Moneytech Exchange, where you can manage payments to your suppliers as well as repayment of your facility all in one user friendly place.
We will assess your business based primarily upon your credit file and your bank statements. You can apply for a Line of Credit if you:
If you have more detailed questions about your eligibility, please feel free to call us on 1300 858 904 or email us on firstname.lastname@example.org
You can terminate your facility with written notice to your relationship manager via email.
We can pay invoices up to 90 days old.
You should have access to your funds within 48 hours of completing your application.
Your approved limit will be based upon a range of criteria, including your monthly turnover and monthly costs. Limits on offer range from $50,000 to $250,000.
We will run a credit check on your business to ensure we are making an informed decision with relation to your facilities. These reports also help us with pre-populating your information in our facility documentation.
You are welcome to repay the facility early. Your interest is calculated daily, so by repaying early you’ll be saving yourself some money by reducing your interest expense.
You don’t need to provide Moneytech with any real estate security to access the business line of credit. You will need to provide Moneytech with personal guarantees in support of your facility, and Moneytech will register it’s interests in your business on the PPSR (personal Property Security Register)
Below are the fees and charges associated with your line of credit:
Yes, once you are on board you will have a dedicated Relationship Manager, who will be available to you via phone or email to answer any questions you have.
If you would like to apply for a higher limit you should let your relationship manager know. They will then advise you of exactly what information we need in order to assess your application for a limit increase. If we’re able to approve your increase, then we’ll send some documentation and whilst you’re executing that we will activate your increase in the system.