The BIZCLUB Product Guidelines
There are many options available to BIZCLUB customers and it is important to note that any of the factors listed below may affect your lending goal. If you are unsure whether or not you can achieve your goal with finance, please call our friendly staff on 1300 552 051 to discuss your circumstances or alternatively complete the contact enquiry form.
Residential Property
- Owner Occupied or Investment (i.e. one property or block
of units)
- Bad Credit History is permitted
- Loans from $30,000
- Interest Only and Principal & Interest
facilities available
- Ex-Bankrupts accepted (must be discharged)
- Short term employment
(from day one)
- Short term self-employment (from one year)
or Business Start Up
- Can lend up to 95% on some properties
without Lenders Mortgage Insurance (conditions apply)
- Full
doc, Low doc and No doc products available
- Interest rates
vary depending on a number of factors and can be quoted on
a case by case scenario
- View detailed residential property breakdown
Commercial / Industrial Property
- Owner Occupied or Investment
- Impaired Credit History is permitted
- Loans from $50,000
- Loan Contracts up to 15 Years (30 Years
also available – conditions
apply)
- Interest Only and Principal & Interest facilities
available
- Redraw and Residual facilities available
- Set & Forget – Set
up your facility with no annual reviews or valuations on
the property
- Short term employment (from one day)
- Short term self-employment
(after one year) or Business Start Up
- Can lend up to 80% on
some securities
- Full doc, Lo doc and No doc products available
- All Loans are
mainly for business or investment purposes
- View detailed commercial / industrial property
breakdown
Acreage / Rural Property
- Owner Occupied or Investment
- Primary Producing or Hobby Farms
- Bad Credit History
- Loans from $50,000
- Interest Only and Principal & Interest
facilities
- Redraw and Residual/Balloon available ( < 50
Acres )
- Set & Forget – Set up your facility with
no annual reviews or valuations on the property
- Full doc,
Lo doc and No Doc facilities available
- Can lend up to 70%
on some securities
- View detailed acreage / rural property breakdown
Equipment Finance
- Loans from $10,000
- Hire Purchase, Chattel Mortgages
- Clients must be a property
owner for equipment
- Bad Credit permitted (conditions apply)
- Full doc, Lo doc and
No doc products available
- View detailed equipment finance breakdown
Leasing
Insurance (Through ReadyCare Risk)
- Asset Protection
- Business Expense Protection
- Debt Protection
- Income Protection
| |
Residential |
Commercial |
Acreage/Rural |
Equipment |
| Owner Occupied |
Yes |
Yes |
Yes |
Not Applicable |
| Investment |
Yes |
Yes |
Yes |
Not Applicable |
| Minimum
Loan |
$30,000 |
$50,000 |
$50,000 |
$10,000 |
| Repayment
Type |
P&I and IO |
P&I and IO |
P&I and IO |
Principal & Interest |
| Minimum
Loan Term |
30 Years |
30 Years* |
15 Years |
5 Years |
| Credit
Impaired |
Allowed* |
Allowed* |
Allowed* |
Allowed* |
| Bankrupt |
If Discharged |
If Discharged |
If Discharged |
If Discharged |
| Employment |
From One Day |
From One Day |
From One Day |
Minimum 6 months* |
| Self Employment |
From 1yr or Start Up |
From 1yr or Start Up |
From 1yr or Start Up |
From One Year |
| Maximum
LVR (Full Doc Only) |
95% |
80% |
70% |
Not Applicable |
| LMI
Required |
 80%* |
55%* |
80%* |
Not Applicable |
| Income
Verification ** |
Full-Doc, Low-Doc,
No-Doc |
Full-Doc, Low-Doc,
No-Doc |
Full-Doc, Low-Doc,
No-Doc |
Full-Doc, Low-Doc,
No-Doc |
| Interest
Rates |
Case by Case |
Case by Case |
Case by Case |
Case by Case |
| Loan
Classification |
Regulated & Unregulated |
Unregulated |
Regulated & Unregulated |
Regulated & Unregulated |
| Annual
Reviews |
N/A - Set & Forget |
N/A - Set & Forget |
Not Applicable |
Not Applicable |
| Redraw |
Yes |
Yes |
Yes (  50
acres) |
Not Applicable |
| Residual/Balloon |
Up to 50% |
Up to 50% |
Up to 50% ( 50
acres) |
Up to 30% |
| Notes |
Can lend up to 95% on some
properties without Lenders Mortgage Insurance. Will look
at Blocks of Units & Serviced Apartments. |
Will look at Service Stations.
Can lend above 55% without Lenders Mortgage Insurance in
some circumstances. |
Primary Producing
and Hobby Farms welcome. No limit on acreage. |
Hire Purchase,
Chattel Mortgages, Lease Back, Finance Lease, Novated Lease
available. In most cases client must be a property owner |
* Conditions Apply
** Note: LVR restrictions apply in each category |
|
