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Ferratum Business offers Capital Installment Loans to small businesses. Loan amounts available range between $2,000 and $150,000. Loans are available on 6-18 month terms.
Our application process is simple and is all completed online. Applications are completed in less than 5 minutes.
In addition to the information requested through the online application, we may also request for the following:
- Your latest closing of accounts or bank statements from the past 3 months.
- A photo of you and your ID sent via your mobile phone.
Qualifications for a Ferratum Business loan are:
- That your business has been in operation for 12 months
- Your company earns at least $75,000 in annual revenues
- All owners of your company are Australia based
- You have a dedicated business bank account
- You have a physical business presence in Australia
Yes, you can repay the loan at any time with no pre-payment penalties. You only pay during the time you have the loan.
No, Ferratum Business loans are not secured by specific assets such as real estate. You will, however, need to provide a personal guarantee for the loan.
Our goal is to approve all loans within one business day and disburse the funds the day after approval. Generally, you can expect to receive funds in your account within 2 business days of completing the Ferratum Business application.
Loan repayments are made monthly in equal installments.
Our average monthly interest rate is 4.5% of the loan amount but ultimately the interest rate is based on our proprietary credit assessment of your business.
You will be asked to enter your internet banking credentials as part of the application process so we can retrieve your bank statements. Through Credit Sense we are granted read only access your recent transaction history from your internet banking.
We don’t store your internet banking credentials. Your credentials are encrypted by Credit Sense when you enter them, passed to your bank to gain access to your transaction history and then permanently deleted. If you need to use Credit Sense again, you will need to re-enter your internet banking credentials.
There is no need to worry, your credentials are encrypted as you enter them and permanently deleted once your transaction history has been obtained. If you are still concerned you could simply change your internet banking credentials after using our service.