Understand your business loan

What we need to know

Affordability

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.

Beneficial ownership

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

Payment Waiver

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

Interest rates

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: