Annual Turnover | > $10m | $5m - $10m | $1.5m - $5m | $250k - $1.5m |
|---|---|---|---|---|
Interest Rate (APR) | 14.95% | 17.95% | 20.95% | 23.95% |
Annual fee | $495 for limits up to $100k $795 for limits over $100k | |||
Legal fees | From $700 (only applicable to loans with caveats and second mortgages) | |||
Commission - Upfront
Paid at first drawdown | 2% of Facility limit, paid at 1st drawdown | 3% of facility limit, paid at 1st drawdown | ||
Commission - Service fee
Ongoing paid monthly in arrears | 0.5% p.a paid monthly in arrears | |||
Annual Turnover | > $10m | $5m - $10m | $1.5m - $5m | $250k - $1.5m |
|---|---|---|---|---|
Minimum guarantor Equifax score | 550 | |||
Credit | Clean credit history | |||
No dishonoured payments | ||||
No existing loans with cashflow lender | ||||
Time in business | 2 years | |||
Limits available | Up to $1,000,000 | Up to $500,000 | ||
Maximum advance non-asset backed | $100,000 | |||
Facility term | 5 years | |||
Repayments | Weekly or monthly (on application) | Weekly | ||
Amortised principal and interest repayments over 48 months | ||||
Applications with exposure up to $500,000 | Completed application on Shift Connect |
6-months bank statements (all business-related accounts) | |
Copy of trust deed (if applicable) | |
Additional documentation for applications with exposure over $500,000 | Up-to-date financial statements (including ages AP & AR) |
Copy of ATO portal |
Annual Turnover | > $10m | $5m - $10m | $1.5m - $5m | $250k - $1.5m |
|---|---|---|---|---|
Property security | Requirements may vary by industry sector & overall application strength | |||
Guarantees | Personal guarantees from all directors Spouse or non-director guarantors accepted if required | |||
PPSR | Registration of ALLPAAP for aggregate loan amounts over $300,000 (1st ranking not required) | |||
Restricted sectors: Property Development, Mining Exploration/Services and Primary Agriculture (Farms). To discuss options for clients in these sectors, please contact broker support on 1300 249 649 (option 1). Additional documents may be requested at the discretion of the credit officer.