A line of credit can be a really flexible option when it comes to wanting to grow your business, especially if you want to approach growth in stages, and build slowly. You can have access to your full available credit amount, but only draw on what you need, when you need it. And only pay interest in the part you need too. Grow your business on your terms.
You never know when the next opportunity is going to come along, but having an available balance of cash available if you need it, means you don’t need to miss out on them when they do. Perhaps it’s a bond on your new dream premises that’s just become available, or perhaps a big contract you need to outlay for materials in order to accept it.
The cost structure of our lending is straightforward. We don’t charge any interest. Instead, loan fees are assessed based on the information you provide and data sources you connect.
Fees are from less than 1% per month of your selected small business loan amount for the 12 months. Every month, you pay back 1/12th of the total amount plus the monthly fee. There is an early repayment fee, so if you’re likely to repay early, it might be best to look at our Propell Line of Credit.