Looking for a flexible line of credit of up to $500,000 for your business? Consider what GetCapital has to offer.
Important InformationThe GetCapital Business Line of Credit Loan is no longer available for new applications. However, we've kept the information online for the benefit of existing customers and for those who are interested.
If you're looking for finance for your business, GetCapital's Flexible Business Loan might be an option for you. You can take advantage of a convenient online application as well as a relationship manager that will help you through the lending process. Qantas Aquire Points can also be earned for money that you borrow up to a certain limit. Lines of credit between $5,000 and $500,000 are available for any business purpose, so read the review to find out if this is the right funding option for your business.
|Product Name||GetCapital Flexible Business Loan|
|Max. Loan Amount||$500,000|
|Min Loan Amount||$5,000|
|Minimum Loan Term||0.25 year|
|Comparison Rate (p.a.)||13.18%|
|Loan Term||3-12 months|
How does a loan from GetCapital work?
You can apply for this loan online and it takes just 60 seconds to get started if you meet the eligibility criteria. This loan is a line of credit and you can apply for a credit limit between $5,000 and 500000.
Repayments need to be made weekly via direct debit. You can draw up to your limit throughout your loan term as long as you keep making ongoing weekly repayments via direct debit. Once you repay funds they become available again, and you can repay and redraw as you like. Keep in mind that fees apply for this loan.
Features on offer with the Line of Credit from GetCapital
When you apply for a Flexible Business Loan from GetCapital, you'll have access to the following features:
- Earn Qantas Aquire Points. Your business can earn 1 Qantas Aquire Point for every dollar you borrow up to 30,000 points per Line of Credit loan. You also earn a bonus 10,000 Qantas Aquire Points per loan.
- Generous loan amount. Variable loan amounts between $5,000 and $500,000 are available, making the loan suitable for a range of businesses and business needs. You can also use the loan for any business purpose you have in mind.
- Easy repayments. You repay the loan via a weekly direct debit, and since the monthly interest rate is from 0.75% (depending on your risk profile) you can budget easily.
- Flexible revolving credit line. Once you make repayments on the loan, the funds become available again. This is for the entire loan term, which is for between 3-12 months.
How much does this loan cost?
The following fees and charges are associated with this loan:
- Interest rate: Monthly fixed rate from 0.75%(this may change based on your risk profile)
- Direct debit fee: $3.80 charged weekly
- Drawdown fee: 1.5%-2.5%
How you can apply for GetCapital's Line of Credit loan
If you're ready to apply with GetCapital, click "Go to Site" to get your online application started. First, check that your business meets the following eligibility criteria:
- Your business has been trading for at least nine months
- You have $10,000 in sales per month
- The loan will be for 100% business use
You'll need your name, contact details, business name, requested loan amount and current monthly turnover for the initial application, following which you will need to provide supporting documents. If you're approved you will receive a loan offer and a relationship manager will help you through the rest of the loan process.