ThinCats provides an online peer-to-peer lending platform so you borrow directly from investors. Founded in the UK in 2010, ThinCats expanded into the Australian market in 2014 to join the ranks of new, innovative business loans platforms catering to Australian businesses.
It can be difficult to understand what exactly you’re getting from a business loan lender. That’s why we have collected all nitty-gritty details about ThinCat’s platform, like its features, approval process, fees and eligibility requirements. So if you want to know all this information, you’re in the right place.
Borrowers are charged a one-off fee of around 6% of the loan amount
Monthly fee of 3% p.a on outstanding loan balance
Principal & Interest
Interest rate may vary upon application.
If you get access to the ThinCats platform, you will discuss with one of their representatives about lots of the specifics about your business, including your operation, intents, finances, as well as personal information about yourself. They will then enter this information into their system and decide what interest rate is best for your business.
ThinCats doesn’t come with too many fees, but there are a couple to look out for, which are
To get access to the ThinCats platform, first you’ll start with a discussion with one of their representatives, answering questions and divulging specific information about your operations, finances, personal information and the specifics about your business. After this they will make a decision about whether the ThinCats platform is right for you.
At ThinCats, heaps of different kinds of SMEs can be considered for a loan. Your eligibility is decided on a case by case basis, but generally, you should be able to show up to date financial information about your business and to demonstrate that you can repay the loan comfortably.
Key features of ThinCats business loans