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%.
Max. Loan Amount
3 to 5 years
|Product Name||Marketlend Loans|
|Min. Loan Amount||$100,000|
|Max. Loan Amount||$10,000,000|
|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 LoansMarketlend 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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.