What we need to know
We need to know that your business can afford to take on the loan. This means you’ll need to provide us with some documents to help prove you can service the loan. These can include any of the following:
- your latest financial statements, including profit and loss
- relevant contracts for service
- bank statements and monthly cash flow records
- details of what insurance is held to protect income, key people and assets
- statement of assets and liabilities.
In order to provide your business with a loan, we need to identify and verify who owns the business and the ownership structure. It’s crucial for us to know who the beneficial owner(s) are so we can comply with the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act.
You’re a beneficial owner if any of the following apply:
- If you own more than 25% of the business.
- If you have effective control over the business.
- If business transactions are conducted on your behalf.
If we’re unable to identify all the beneficial owners, we won’t be able to provide you with a loan.
How repayments work
We offer flexible terms so your repayments can fit your cash flow. And if you want to pay your loan off early, you can do that too.
Protect yourself from the unexpected
Choose Payment Waiver with your loan, and you could be protected if you’re affected by injury, illness or even death.
Mechanical breakdown insurance
Mechanical breakdown insurance may cover you for repair costs if your vehicle has an unexpected mechanical or electrical problem.
Cost of borrowing
For loans secured against an asset, such as a vehicle, our interest rates range from 11.70% to 23.70% per year. Unsecured loans range from 14.20% to 24.20% per year. Both types are fixed for the term of the loan. The interest rate for your loan depends on a number of factors, including your:
- income and spending information
- credit score provided by credit bureaus and other third parties
- credit history with us if you’re a previous customer.
We’re transparent about what is in our contract. These are the standard terms for all our finance products.
Consumer protection laws
The following consumer protection laws and guidelines apply to your loan with us:
Complaint or concern?
If you have a complaint or concern about a product or service we provide, follow these steps to find a solution.
- Contact the person who sold you the product or provided the service.
- If they can’t help you, contact our friendly customer support team.
- Refer the dispute to the Insurance and Financial Services Ombudsman (IFSO) if you’re still not satisfied with the response.