Morgan Finance Australia

 

Business faqs

Application Process

  • What is a pre-approval?

    Pre-approved means that you have over 89% chance of successfully obtaining a loan based on the information you've provided (according to our statistics). There is no credit check for a pre-approval.

  • How to apply?

    1. Complete a fast 5 minutes pre-approval (24/7).
    2. Email/Fax or Post to us a few supporting documents. View Document Checklist
    3. Money will be transferred to your account after a quick document review (Condition apply)

  • Am I eligible?
    Morgan business loans are easy to be eligible, select the loan that suits you:
    Fast Business Loans
    $1,000 - $10,000
    Own a registered motor vehicle (Financed OK)
    OR
    Own a real estate property (Mortgage OK)
    Bad credit history considered
    Premium Business Loans
    $10,000 - $500,000
    Own a real estate property with mortgage below 80%
    Bad credit history considered

    Unsecured Business Loans
    $1,000 - $30,000
    Business operating for over 12 months
    Sales via credit card/EFTPOS payments $5k+ per month
    Fixed remaining lease over 12 months
    Relatively good credit history
  • How much can I borrow?
    Fast Business Loans Max 50% of your vehicle's trade-in value
    Max 95% of your real estate's value
    (Excluding mortgage owing. If LVR over 80%, loan amount might be limited )
    Premium Business Loans Max 80% of your real estate's value
    (Excluding mortgage owing. Real estates in remote areas require lower LVR ratio)
    Unsecured Business Loans Around 40 - 70% of your monthly sales via credit card/eftpos payment.
    (e.g. if your clients pays you a total of $10,000 monthly with credit cards/eftpos , than loan might be $4,000 - $7,000)
  • How do I maximise my chances of approval? 

    Simply make sure the application form is filled in fully, and provide a clear supporting documents. In most cases, joint applications have a higher chance of approval. 

  • What happen after I apply?

    After you have completed your application form and have sent in all the supporting documents, we will immediately process your loan. Once your application has been reviewed and a contract has been signed, the money will be deposited in your bank account.

  • Interest Rates and Repayments

  • What are the loan repayments?

    Morgan Finance can assist you in tailoring an easy repayment option. All you need to do is let us know your desired repayment amount on application and on approval, repayment details will be emailed to you to consider.

  • What is the interest rate?


    From 2.9% per month. In most situations loan term only goes for 1 - 12 months, hence interest rate is relatively low. In most cases, you may be able to pay out at any time to save interest. Interest rate and repayment details will be given to you to consider before drawdown.

  • Are there any fees involved if I pay out my loan earlier?

    Morgan Finance believe in transparency. There are no hidden fees and charges for any products that Morgan Finance arranges. Most products can be paid-off early at any time without extra penalty, whilst also saving on interest repayments.

  • Will a credit check be listed on my file?

    For your peace of mind, no credit check will be carried out if you decide not to proceed after Pre-Approval. To ensure Morgan Finance is compliance with credit law, a credit check will be done on applicants during final review of your application.

  • About Morgan Finance

  • Will my privacy be protected?

    Absolutely. Your privacy is protected at all times. Morgan Finance operate in a strict Privacy Policy to prevent 3rd parties or associated companies from accessing your personal information unless permission is given by you. 

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