Frequent Questions
Q/ How do I arrange a LOC for my business?
A/ CLICK HERE to enter your details and a consultant will contact you to arrange your free quote.
Q/ Do I need to provide security?
A/ The maximum amount you can access through your LOC is determined by the trading history of your business. To find out how much your business qualifies for fill in our easy enquiry form
Q/ How long before I can access the funds?
Q/ Are there any upfront establishment fees or fees when I drawdown funds?
Q/ What is the interest rate and other charges?
Q/ How much funding will my business have access to ?
A/ Once your LOC is approved you can access the funds immediately. The whole process can be done electronically and you can have access to your funds within 24 hours of your initial enquiry.
A/ No, there is no establishment fee and no fees when you draw down funds.
A/ The costs for your LOC are very affordable - rates are calculated daily (on drawn amount only) and range between 0.055% - 0.123%. The weekly service fee is 0.046% (which equates to 2.4% annually). Also don't forget the interest and charges you pay are a business expense and are therefore tax deductible.
,A/ For amounts up to $150,00 no security is required. For amounts above $150,000 security may be required depending on your business trading history.
Have more questions?
Feel free to contact us and we will be happy to help!
Q/ What are the terms?
A/ The term of your LOC will normally be 24 months however we can look at arranging a shorter term if required. Repayments are made weekly.
Q/ Can I renew my LOC at the end of the term?
Q/ Can I payout my LOC at any time or cancel it without any fees or penalties?
A/ Yes, you can easily renew your LOC at the end of the initial term. You can also apply to increase the amount of your facility.
A/ Yes, you can payout or cancel your LOC at any point in time with no added costs.
Q/ Why should I get an LOC for my business? What are the benefits and advantages?
A/ In addition to the peace of mind in knowing that you have funds readily available whenever needed, and that you will only pay for them while you use them, there are many advantages of having an LOC for your business click here to learn more
