Everything is plain and simple. We agree everything between us up front. Interest rates and charges are agreed in writing prior to opening the Line of Credit. We will never charge anything which has not previously been agreed.
There are no application fees, no cash advance fee, and no early repayment or finalisation charge of any kind. The only charges are the interest and $10 a month account keeping fee when money is owing. When no money is owing, the account fee is zero and you are not charged any interest.
We require a minimum repayment each month of 3% of the outstanding balance, or $30, whichever is greater. You are able to pay more anytime, without any penalties and save money!
We believe that taking out a loan should be easy and hassle-free. Everything from the application process to repayments is completely done online, which means that you spend less time filling out forms or lining up at the bank, and more time doing the things you love with the people you care about. Repayments can be monthly, fortnightly, weekly and one-off as funds become available.
Peace of Mind
Anything undrawn below the Credit Level can be drawn anytime. When an account repays in full, the facility remains open to be drawn against, up to the credit level. So, you have a ‘cash buffer’ for whenever a problem or an opportunity comes up. This is provided by &Solved at no cost.
Set and Forget?
Not quite! But you can forget about worrying whether you will get a loan next time you need some cash. You can forget about constantly having to re-apply to banks or finance companies and the hassle and intrusion each time. You can forget about struggling to meet high re-payments – if you’re going through a tight patch you can just pay the minimum, and boost it up again when you’re flush, to save interest. You can remember to enjoy life knowing you are better prepared to handle problems and take advantage of opportunities.
“Line of Credit – A Better Solution”