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TruePillars matches business loan applications with investors that are looking to diversify their wealth. Your business's risk rating is based on your business profile and the loan amount requested. This risk rating determines the interest you'll be charged, which varies between 8% p.a. and 24% p.a. While you pay an establishment fee, no other fees are charged as long as your repayments are made on time.
from 4% Establishment fee
Upfront Fee
$500,000
Max. Loan Amount
1 to 5 years
Loan Term
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Product Name | TruePillars Business Loan |
---|---|
Min. Loan Amount | $30,000 |
Max. Loan Amount | $500,000 |
Loan Security | Secured |
Upfront Fee | from 4% Establishment fee |
Loan Term | 1 to 5 years |
TruePillars rates your application with a risk assessment, which is used to calculate the interest due on repayments. Investors also see a summary of your business profile, including information about turnover, operating costs and assets.
During the loan auction period, which lasts 4 - 7 days, investors bid to finance units of your loan until the amount is fully funded. Once the auction ends, you can sign off on the loan and the money will be transferred into your account as early as the next business day. You do not have to commit to the loan until the conclusion of the loan auction. If you're unsure, you will have 2 further business days to consider your decision. If you decide not to proceed, no fees will be payable.
Repayments are made monthly over a maximum loan period of 5 years.
If you're interested in securing finance on the TruePillars marketplace lending platform, here are some of the features available:
If TruePillars approves your application and posts it on the platform, you will be liable for the following fees:
You can apply for a TruePillars Business Loan conveniently online. It takes about half an hour to complete the form. You can also call the customer service line if you'd like more information about the loan.
You'll need to meet the following criteria to be eligible for a loan:
Documents can be uploaded along with the application, so it's a good idea to have electronic copies available. These will include:
While signing up for marketplace lending is an interesting alternative, it's still important to compare options from other lenders, even traditional ones. You may not know your investors, but agreeing to loan terms still implies a financial commitment.
Whilst we don't compare the TruePillars Business Loan directly, use the table below to see how they compare against other loans.