Cigno Business Solutions is an online lender that aims to help business owners get the cash they need to drive their business. Their pricing structure is simple, and they’ve scrapped all the paperwork in favour of a streamlined, data-driven application process, making it easy for business owners to get their hands on extra funds.
Thinking of getting a business loan but not sure how much you need exactly, well Cigno Business Solutions allows flexible borrowing that might fit your exact needs. Check out the features, fees, rates and processes that are involved with a Cigno Business Solutions business loan below.
From 5% Monthly
Monthly Lender Fee
Service Fees apply, varired and subject to loan amount and term
Weekly, Fortnightly, Monthly
Principal & Interest
Less than 24 hours
When you take out a loan with Cigno, you’ll know exactly how much you’re paying. They charge a flat fee that amounts to 5% of what you borrow, which is then paid back as part of your usual repayments.
There are actually two ways to borrow with Cigno. If you ask them to put you directly in touch with the lender, you shouldn't pay any fees other than the 5% flat interest rate. However, if you choose to secure your loan through Cigno Business Solutions premium service, you'll pay establishment and management fees as well. The benefit is you can often get your loan much quicker doing it this way.
Cigno doesn’t ask for much from business owners. All you’ll need to provide are some basic contact details and a registered ABN number, plus a 90-day bank statement for your business so they can assess its standing. Cigno will then decide how much they can responsibly lend you, and if you’re deemed capable of making the repayments you should have the amount within 2 hours.
You don’t need to be a well-established business to qualify for a loan. All you need is to have a registered ABN and be able to show revenue of at least $10,000 a year for your business.