Marketlend Business Loans

Marketlend is an online peer-to-peer lender with its own investment marketplace to help Aussie businesses find the loans they need. Founded in 2014, with their headquarters in Sydney, Marketlend connects businesses directly to investors to cut out the middleman.

Marketlend business loans - what you need to know

Marketlend have created a peer-to-peer platform, that after a lengthy application process and personal discussion, lets you put your desired loan on the market to be bid on by investors directly. Not quite sure how that works? We’ve collected some of the features, fees, loan types and application process need-to-knows about Marketlend, to help you out.

FAQs about Marketlend

How are Marketlend interest rates determined?

Marketlend connects you with a business investment platform, so what rate you get will partly be determined by investor interest in your loan. Your interest rate is also determined using a combination of the interest rate paid to investors, plus a platform fee you pay to Marketlend.

What fees are there?

Marketlend comes with a few fees that you should be aware of before you dive into getting a loan. These include:

  • - Application fee
  • - Platform fee
  • - Loss prevention fee which you pay upfront, but is returned if no loss is incurred
  • - Utilisation fee, paid on any unused finance not used during a line of credit loan
  • - Direct debit dishonour fee
  • - Late payment fee paid everyday until the amount is paid

How does the approval process work?

To get access to the Marketlend platform, there’s a pretty lengthy application that goes as follows:

  • - You enter your details into the website.
  • - Next you’ll complete a 10 page document about your business’ finances, operations, future plans and your own personal financial situation.
  • - Your business is then accessed by third party chartered accountants and risk officers to forma risk report about your business for you and your prospective investors.
  • - You’ll then have an interview to discuss yourself, your business, your loan request and the risk assessment result.
  • - You’re listing will then be placed on the marketplace, where investors can bid on it.

What do I need to be eligible for the Marketlend platform?

Marketlend caters to larger companies so its requirements might exclude many small businesses. While there aren’t hard and fast eligibility rules, Marketlend may require that:

  • - Your business has been operational for 24 months
  • - You need to have $1 million turnover annually
Key features of Marketlend business loans
Peer-to-peer platform

Marketlend is a peer-to-peer lender that connects your loan directly with an investor. You put your desired loan onto the market platform and either one or more investors will bid to invest on your loan. This means that your business loan is coordinated directly with the lendee, giving you much more flexibility.

Flexible loan terms

You can choose a loan term between 3 and 72 months with Marketlend, allowing you to get a quick in-and-out loan or spread repayments out over a longer period.

Pre-pay supply chain loans

If you are engaged in a supply chain, you may find yourself needing to pay back a loan before you have the capital. Marketlend will prepay your loan up to 90 days, giving you that extra time to get your finances in order.

Unsecured Loans

As well as providing line of credit loans, Marketlend also offers traditional, unsecured loans. These let you get the full amount of money you need quickly and you won’t have to have any large assets to put up as security, the way some business lenders require.

Borrow between $2,000 - $1,000,000

The marketplace platform offers the flexibility to apply for a loan anywhere between $2,000 and a $1,000,000. However keep in mind that if you’re applying for a larger loan you may need to wait longer while the investors build up the capital to invest.