Marketlend Business Loans

Looking for a quick solution to pay your suppliers? A Marketlend loan can help in more ways than one.

Marketlend is the first peer-to-peer online lender in Australia to combine direct lending with insurance and margin protection. A securitised trust secures every loan offered by this business. When you apply for a loan through Marketlend you can expect them to undertake a credit check, establish a repayment expectation rating and also facilitate the administration of the loan. Loans offered by Marketlend come with competitive interest rates, a quick application and approval process, and there is no need for you to provide any security.

Types of personal loans offered by Marketlend

Marketlend loans are ideal if you, as a small business owner, want access to some working capital in order to pay your suppliers. You can look forward to applying for a Marketlend loan without mortgaging your home or any other property and Marketlend pays your suppliers directly, thereby helping reduce your administration costs. When it comes to choosing between loan types, you have a few options.

  • Small Business Loan. This loan helps you get the financing you need for small business purchases.
  • Short Term and Bridging Loans. If you need money to help cover cash shortfalls or gaps in receiving funds from suppliers, you can consider a short-term loan from Marketlend.
  • Auto and Vehicle Loans. Marketlend also offer financing for those looking to purchase a car or other vehicle.
  • Equipment loans. Your business can make the equipment purchases it needs with help from a Marketlend Equipment Loan.
  • Personal Loans. These soon-to-be-available loans will allow borrowers to finance personal purchases through Marketlend.

Features and benefits of a Marketlend loan

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. You can borrow a minimum of $2,000 through a Marketlend loan, and if you qualify you can apply for as much as $1,000,000.
  • Loan term. Loan terms can vary from three to five years, but this depends on your Marketlend rating.
  • Interest rate. The competitive interest rates Marketlend loans offer depends on factors like your Marketlend rating and loan term.
  • Repayment flexibility. Marketlend loans come with flexible repayment options, and you don’t have to worry about penalties for early repayments.

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: $300. This fee can vary, but in some instances you can see the fee waived. You pay this fee upon the satisfactory setting up of your new account, and you can have it deducted upon loan settlement.
  • Closing fee: This fee is a percentage of the total amount you borrow, and takes your Marketlend rating into account.
  • Default fees: Expect to pay a $50 failed direct debit fee in the event of your first direct debit dishonour. The second attracts a fee of $100, and this also leads to account closure. The late payment fee stands at $15 per day, and will be charged each day your payment is late.

How to apply for a loan from Marketlend

You can apply for a Marketlend loan online via their web site. Once there, completing the entire application process takes no more than a few minutes.

You 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 choose to fund your listing 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.

Rates last updated March 23rd, 2018
Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
Prospa Business Loan
0.25 to 2 years
Apply for up to $250,000 and receive your approved funds within one business day. Note: Businesses must have a turnover of more than $5,000 per month and be able to demonstrate 6 months of trading history.
NAB QuickBiz Loan
1 to 3 years
An unsecured business loan from $5,000 that can be processed in 1 business day. Businesses that apply and are approved before 30 April 2018 are eligible for a discounted interest rate of 12.95% p.a.
OnDeck Business Loans
0.5 to 2 years
$0 (2.5% origination fee)
Apply online for up to $150,000 with OnDeck and receive approved funds in one business day.
Moula Business Loan
0.5 to 2 years
Small business loans of up to $250,000 approved and funded within 24 hours.
Transparent fees and rates. Note: Business must have been operating for at least 12 months and have monthly sales of at least $5,000.
Sail Unsecured Business Loan
1 year
2.5% origination fee
Apply for up to $100,000 even if you have bad credit. Note: Business must have been operating for at least 6 months and have turnover over $50,000.
GetCapital Flexible Business Loan
0.25 to 1 years
1.5% to 2.5% initial draw down fee
A flexible business loan that allows you to earn Qantas rewards points. Note: Business must have been operating for at least 9 months and have monthly sales of at least $10,000.
Ferratum Business Loan
0.5 to 1.5 years
Competitive business loans from $2,000 based on your business’ cash flow.

Compare up to 4 providers

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