Annual turnover: | $250k - $1.5m | $1.5m - $5m | $5m - $10m | $10m + |
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Minimum guarantor Equifax score | 550 | |||
Credit | Clean credit history | |||
No dishonoured payments | ||||
No existing loans with cash flow lenders | ||||
Time in business | 2+ years | |||
Limits available | Up to $500,000 | Up to $500,000 | Up to $1,000,000 | |
Maximum advance non-asset backed | $100,000 | |||
Maximum term | Up to 5 years | |||
Repayment frequency | Weekly |
Annual turnover: | $250k - $1.5m | $1.5m - $5m | $5m - $10m | $10m + |
---|---|---|---|---|
Variable annual percentage rate (APR) | 23.95% | 20.95% | 17.95% | 14.95% |
Direct debit fee | $3.85 per week | |||
Legal fees | From $700 (only applicable to loans with caveats and second mortgages) | |||
Commission (inc GST) | Up to 4% of the loan amount as an establishment fee (added to loan amount) |
Applications with exposure up to $500,000 | Completed application on Shift Connect | ||
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6-months bank statements (all business-related accounts) |
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Copy of trust deed (if applicable) | |||
Additional documentation for applications with exposure over $500,000 | Up-to-date financial statements (including ages AP & AR) |
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Copy of ATO portal |
Annual turnover: | $250k - $1.5m | $1.5m - $5m | $5m - $10m | $10m + |
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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) |
Note: This product is not suitable for working capital uses such as purchasing inventory or general maintenance. If you are unsure about what is the appropriate product for a particular customer scenario please contact your BDM.
Privacy Policy. Terms and conditions. Please consider the information before you decide whether the product is appropriate for your business. Standard credit assessment, fees, terms and conditions apply. The products and service offered are available in Australia from Shift Financial Pty Ltd. ABN 24 149 390 625, (“Shift”).