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Marketlend Loans
Upfront Fee
$330
Max. Loan Amount
$10,000,000
Loan Term
3 to 5 years

Summary

Borrow from $100,000 up to $10 million. Interest, application, platform, loss protection and utilisation fees apply.

Marketlend is an online peer-to-peer lender that offers a range of secured and unsecured loans for businesses. Small businesses can apply for financing options such as invoice finance, supply chain finance and lines of credit which are funded by investors on Marketlend's platform. How much you can borrow will depend on the type of finance you apply for. Their line of credit has a $100,000 limit (unsecured), while for supply chain finance you can borrow up to $1,500,000 and for debtor finance it is $4,000,000. There are various fees involved, including an application fee ($330 + a minimum 3.3% fee). There is also a platform fee of 23% of the interest rate. A utilisation fee of 7% p.a., and a loss protection fee of 1.5%.

In this guide

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Details

Product details

Product Name Marketlend Loans
Min. Loan Amount $100,000
Max. Loan Amount $10,000,000
Loan Security Unsecured
Upfront Fee $330
Loan Term 3 to 5 years

Types of business loans offered by Marketlend

Marketlend offers bespoke business financing solutions that are tailored to your specific business mode. Options include:

  • Invoice finance. Marketlend will purchase up to 90% of your domestic debtor invoices, or 75% of your international debtor invoices. The rest is paid to you upon client payment, minus whatever interest charges you amounted over the course of the loan term.
  • Supply chain finance. Marketlend's supply chain finance, also referred to as an "uninsured line of credit", allows you to pay your suppliers upfront and take advantage of supplier discounts. You can apply for limits of up to $1.5 million, with larger amounts still considered.
  • "UnLock" Payment Gateway. "UnLock" is a payment gateway offered by Marketlend. It's a buy now pay later solution that enables buyers to pay upfront and have extended supplier terms. It also enables SMEs to boost their purchasing power with more working capital to grow.

Features and benefits of Marketlend Loans

Marketlend Loans give you direct access to investors and don't require any property collateral. While you apply for these loans online, you can look forward to personal support through the entire course of your loan. You can also expect minimised red tape as well as increased transparency, security and confidentiality.

  • Loan amount. There is no maximum loan amount with a loan from Marketlend. This is because the amount you can borrow correlates to your accounts receivable, annual turnover and financial circumstances.
  • Loan term. Loan terms will vary depending on the arrangement you have with Marketlend.
  • Interest rate. Marketlend does not set interest rates. Instead, investors are provided with an interest rate limit based on factors including Marketlend's Automated Risk Assessment, credit terms, economic environment, competitive environment and applicant requirements.

Fees and charges

As with any other loans, certain fees and charges apply to Marketlend Loans. The details of these costs are as follows:

  • Application fee. A fee of $330 plus a minimum 3.3% fee is payable once your new account is created.
  • Platform fee. A platform fee of 23% (GST exclusive) of the interest rate applies.
  • Utilisation fee. A utilisation fee is payable on funds that are allocated in a line of credit to the borrower as part of the facility limit, but that remain unused. The utilisation fee is charged at 7% per annum (or as agreed) and on the amount that is unutilised. Capital not utilised in excess of $2,000 for more than 2 months may be returned to the investors.
  • Loss protection fee. The loss protection fee is 1.5% of the loan amount and is held as a reserve for any losses. If the loan is repaid in full and on time with no losses, the account holder is entitled to this money returned. Please note that reserves may be used to cover losses across a portfolio of accounts, not just one facility.
  • Default fees. Borrowers can expect a $25 fee if their direct debit is dishonoured. After a second debit dishonour, you will be charged a fee of $100. Also, if no interest is paid, your account will be closed and enforcement action will be taken.
  • Late fee. A late payment fee of $25 per day is charged for days late, or 26% on the amount past the due date of the payment, whichever is greater.

How to apply for a loan from Marketlend

You can apply for a business loan on Marketlend's website. Start by providing personal details, which are then checked by Marketlend. You will then be assigned a rating and presented with your options. Once a listing is created for your loan, investors can bid on your listing to fund you in full, or partially. With the invested funds in place, money will be deposited in your supplier's bank account after your invoice is verified.

To apply, you need to provide the following:

  • Email address
  • Home address
  • Your complete name
  • Date of birth
  • Any other relevant personal information

Business lenders you can compare

Whilst we don't compare Marketlend Loans directly, you can use the information in this page and the table below to see how they stack up in the Australian peer to peer market.

Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Lumi Unsecured Business Loan
$5,000
$500,000
3 months to 5 years
2.5% establishment fee
Apply for up to $500,000 from Lumi and benefit from short loan terms, no early repayment fees and once approved receive your funds in just one business day.
Valiant Finance Business Loan Broker
$5,000
$20,000,000
3 months to 7 years
$0 application fee
A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 80 lenders. Loans between $5,000 and $20 million are available. Request a call – your loan can be funded in 1 business day.
ebroker Business Loan
$5,000
$5,000,000
1 month to 30 years
$0 application fee
Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.
ScotPac Boost Business Loan
$10,000
$500,000
3 months to 3 years
$0 application fee
A business loan for any industry. Borrow between $10,000 and $500,000, with approved loans funded within 24 hours. Minimum monthly turnover of $10,000 and 1 year of trading history required.
Prospa Business Loan
$5,000
$500,000
3 months to 3 years
3.5% origination fee
Small business loans are available from $5,000 - $500,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $5,000 is necessary.
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