ThinCats P2P Business Loans
Borrow up to $300,000 with a P2P business loan. Interest ranges from 12% p.a. to 20% p.a. Fees and charges apply.
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The ThinCats P2P Business Loans is designed to help SMEs fund the next stage of their operations. Once you apply, your application will be reviewed and listed to auction. Investors will then bid to fund your loan and once the auction is complete, the funds will be transferred to you. You will have to fixed monthly repayments, including principal and interest. The borrowing amounts range from $50,000 to $300,000 with terms from 6 months to 5 years. The interest rate ranges from 12% p.a. to 20% p.a., and the fees include a loan arrangement fee of 6% the loan amount, a monthly administration fee and legal and stamp duties.
You can apply for a business loan of between $50,000 and $300,000, either directly through ThinCats or through a sponsor or introductory. When you apply, your application will be assessed by the ThinCats credit team, who will also help you prepare an information packet that will be presented to investors. A loan auction will be held to get your loan funded.
Your loan is repaid in monthly instalments over a period of 6 months to 5 years, and the interest rate is determined during the loan auction process. You can repay your loan early without penalty.
When you submit your application, the ThinCats credit team will review it using its risk assessment criteria. Here are a few guidelines to help you understand what kind of businesses they are looking to have on the platform:
This innovative loan comes with numerous features and benefits, including:
Consider the following costs before applying for a ThinCats loan:
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