Business Overdraft

Interest Rate (APR)

14.95%

17.95%

19.95%

20.95%

24.95%

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% inc GST of Facility limit, paid at 1st drawdown

3% inc GST of Facility limit, paid at 1st drawdown

4% inc GST of facility limit, paid at 1st drawdown

Commission - Service fee Ongoing paid monthly in arrears

0.5% inc GST p.a paid monthly in arrears

Minimum director Equifax score

550 (2.0 Comprehensive score)

Credit

Clean credit history

No dishonoured payments

No existing loans with cashflow lender

Time in business

2 years

Limits available

Up to $2,000,000

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 60 months

Applications with exposure up to $500,00

• 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

• For limits up to $1m with a first mortgage, second mortgage or caveat, financial statements and ALLPAAP are not required.

• For limits >$1m, up-to-date financial statements are required.

  (including aged AP & AR)

• Copy of ATO portal

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)

• No ALLPAAP required if first mortgage, second mortgage or caveat is provided.