Copyright © borrowly.loans (Credit Representative Number - 522140) which is an Introducer Appointed Credit Representative of Marketplace Finance Pty Ltd (Australia Credit Licence Number: 487316). We are a referral service only and do not directly fund any credit product. Your request will be referred to a third party lender who will contact you directly to ascertain if they can facilitate your requirements. The third party will inform you of their fees, charges and terms as relevant to your application before you would enter any contract with them. The third party may perform a credit check but will get your consent before doing so. We may receive a referral fee (amount not ascertainable) from the third party depending on the outcome of their dealings with you. It is recommended that you obtain independent legal and financial advice before taking up any products that you may be referred to and offered.
(*) Disclaimer: Most Outcomes Within 60 Mins* As advertised - loan application will be referred by participating lenders instantly and it is anticipated you will hear from a matched lender within a matter of hours.
(**) WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.
For our Small Loans of $2,000 or less, an APR (Annual Percentage Rate) does not apply. The maximum you will be charged is a flat 20% establishment fee and a flat 4% monthly fee. Representative example: Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.
For our Medium Loans between $2,001 and $5,000, the Annual Percentage Rate (APR) is 48% (Comparison rate 67.41% p.a.). Representative example: Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.
For our Large Loans between $5,001 and $15,000, the Annual Percentage Rate (APR) is 21.24% (Comparison rate 48% p.a. ). Representative example: Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.
