FAQ’S…. check here first to see if we can answer your question.

PERSONAL LOANS

How do our personal loans work?

It's easy, just complete the online referral request and we will forward on for a loan consultant from prime lenders Australia to contact you to discuss further and request any supporting documents to assess your loan request.

Can I get a loan if I am on a pension?

Yes you can. You will need to use a car or house as security.

Can I get a loan if I am on NewStart Allowance?

Yes you can but you will need a co-borrower with security to go on the loan with you.

Can I get a loan if I have defaults?

Yes you can. You will need security of a car or house, your loan will be assessed and depending on the type and size of the defaults you may require a co borrower with security and clean credit.

Can I get a Personal loan if I am currently bankrupt?

Unfortunately No. You will need to be discharged in order for us to assist you.

Can I get a Personal loan in I am currently in a debt agreement?

Unfortunately No. You will need to have paid it in full in order for us to assist you

What is the interest rate?

Interest rate is dependent on assessment. The higher the risk the higher the rate. You will be told your rate after assessment of your loan application.

What are the repayments?

Repayments amounts cannot be determined until after assessment and the rate and loan term has been established.

How long does it take to get approved?

From receipt of your supporting documents it should take no more than 24 - 48 hours

What is the maximum I can borrow with bad credit?

The Maximum amount that can be assessed is $5,000

If I have a guarantor what do they need to do?

They must send the same documents through as the initial borrower, and must be over the age of 18

Other Things You Should Know

Personal Loans are fast, online cash loans to a wide cross section of Australia?s population. We understand that everyone is unique and we tailor personal cash loans to suit different budgets, lifestyles and financial circumstances. At all times you will receive professional service and we strive to respond to online applications quickly.

Representative Personal loan example: A loan of $2500 with a 24 month term. Total cost of credit, including all applicable fees is maximum $1394.38. The maximum Annual Percentage Rate is 9.75%. The comparison rate, based on a loan of $2500 over 24 months is 48%. Minimum loan repayment period of 6 months and maximum loan repayment period of 24 months. Representative Car loan example: A secured loan of $10000 with a 36 month term. Total cost of credit, including all applicable fees is maximum $8940.78. The maximum Annual Percentage Rate is 18.75%. The comparison rate, based on a secured loan of $10000 over 36 months is 48%. Minimum loan repayment period of 18 months and maximum loan repayment period of 40 months.

"WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate".

CAVEAT LOANS (Short term business loans)

What is a caveat loan?

A caveat loans is a short term loan which can settle in just 24 hours.  Caveat Loans are strictly for business or investment purposes, and generally only run from 1 – 4 months.   So if you need cash fast whilst you are waiting for your property to sell, or refinance to go through, etc, a caveat loan is the answer.

What are the costs involved in a caveat loan?

Caveat Loans are not cheap, but they are fast and no valuations are done, so there is a high degree of risk for the lender.   However they are very simple loans, and settle within 24 hours.  The interest rate is 4%pcm, establishment fee is between 6% and 8% of the loan amount, and legals are $2200.  All these costs are GST INCLUSIVE and are capitalised into the loan, so you don’t pay anything up front (except for a small acceptance fee), and you don’t pay any interest until the end of the loan term

What are the benefits of getting a caveat loan?

As they are for business or investment purposes, all costs are tax deductable.  Caveat Loans are also the ONLY way to access large sums on money in just 24 hours.  They are also very flexible, plus unlike most other caveat lenders, we DO NOT do valuations, which is why we can settle in just 24 hours.

Do I need security?

Yes. These loans settle in just 24 hours, and we do not need to see any financials, however short term business loans must be secured against a piece of real estate, such as a house, unit, land or commercial property. We will lend to 75% of the property value. If you already have a 1st mortgage, we just sit behind that mortgage as a "caveat"... which is like a 2nd mortgage.

Do we lend anywhere is Australia?

Yes we will lend on properties anywhere in Australia for any worthwhile business purpose.

Will you fund new business start ups, or purchases?

Yes, we sure will. As long as you have some evidence of the new business or business purchase, and enough security in a piece of real estate, and an Exit Strategy, ie: "how you will pay the short term caveat loan back", we will lend to you "no questions asked&;quot.

Can I extend the short term caveat loan if I need more time?

Yes, you can extend the loan past the set loan term if required. It is just a case of making monthly interest payments in advance (once the loan term is up, and that will allow you to extend the loan for as long as you like. Simply talk to our friendly team and we can set this up for you.

Can you help with the refinance?

Whilst we don't fund or write consumer loans, or home loans, etc, we can point you in the right direction of some award winning finance brokers who really know their stuff, and will get you the refinance you need at the most competitive rates.

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