How is the loan structured?
The loan works like a Line of Credit
The applicant gets approved for a limit. Once approved the applicant can drawdown, payback and redraw again.
Use of Funds
Funds are paid to you in cash.
Use is not restricted.
Agreement from your Accredited Provider (AP)
Your AP will need to approve this arrangement
Check with us to see whether they are already working with ALTAI Finance.
Basis for Drawdowns
A payment notification from your AP (Payment Invoice)
Repayments
Payment by the AP directly for each drawdown.
Drawdown Amount
100% of the Payment Invoice, minus our fee.
Subject to credit limits
Limits
Limits will be set by ALTAI Finance on a case-by-case basis
The AP may require limits on credit
Interest
Approx. 2.5 – 5.0% per drawdown. Assumes an average 4 week term. On the lower end for less than 4 weeks, at the higher end of the range for longer terms.
Other Fees
Fees and an interest rate may apply in the event of restructure of the loan or default.