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Looking for a business loan but don't know where to start? LendFriend is here to help! We connect you with over 50 lenders around Australia, so finding the best deal for your needs is easy.
Our application form is simple and straight to the point. We get the most essential information in that application form and it takes less than a minute to complete. Once that application is completed, it enters our LoanMatch system which uses loan amount, time trading and several other elements from your application to compare 1000s of data points from our panel of 50+ lenders to determine the 3 best lenders for you.
Within seconds after you’ve completed the application, the LoanMatch system has worked out the 3 best lenders for you. The first lender will make contact with you within 5 minutes of your application being complete. The reason we have 3 lenders to choose from is so that if you are not interested in their terms, rates or loan offerings, then there are extra options for you to choose from. It’s important to note that lenders will only call you one at a time. We do not mass submit your enquiry to the top three lenders at once, the next lender will only contact you if you tell our team or if you tell the lender you’re speaking to that you’re not interested.
Once you are happy with the lender you're speaking with and you go over the specifics of your loan and get approved, it's time to move onto the final stages. This is when lenders will ask for specific documents or want to properly assess your financial circumstances. This is the best opportunity to be honest with your lender and let them know if you have any defaults, dishonours or any other things that may pop up if they do some checking. The lenders use bank grade assessment tools to determine if they can lend to you or not so it's best to be honest with them. Once approval and final documents are signed, your deal has settled and the lender will inform you of when to expect funds!