FAQs

Am I eligible for a business loan?

To be eligible for a Beyond Merchant Capital Loan, business owners will need to have:

  • An ABN or ACN
  • Been in operation for more than 6 months
  • Have a minimum monthly average turnover of $10,000
How much can I borrow?
  • Beyond Merchant Capital uses your business data to provide responsible funding to help your business grow, faster.
  • Merchant Cash Advances up to $250,000
  • Unsecured Business Loans up to $500,000
  • Our business consultants can walk you through both options, so you can decide which option best aligns with your business goals.
How can I used the funds?

You can use the loaned funds for any business purpose. From paying off expenses, buying more stock, hiring staff or upgrading equipment. The choice is yours, not ours.

How long are the loan terms?
  • Unsecured business loans are generally between 9 and 12 months.
  • Merchant Cash Advance payments have no fixed term. This means when business is slow, you pay less. When its booming you pay more. The term of your loan adjusts with your business turnover, and is based on an agreed % of future EFTPOS sales.
What does the loan cost?

We have no hidden costs, and there is no need to pledge assets. Just one unchanging ‘factor fee’, which is agreed upon at approval. Our ‘factor fee’ will not increase, even if the loan takes longer to pay off than anticipated.

How do you compare against other financial providers?

What really sets us apart from competitors is our transparent pricing. You won’t hear a whisper of any fees such as: setup, document, direct debit, late payment or cancellation fees. You will know exactly how much you are repaying and what your loan will cost up front, with the option of a fixed or variable debit order, or split processing via your EFTPOS terminal (split processing is available to customers have shown consistent card turnover through a First Data terminal).

How long does the application take?

Our easy online application takes 10-15 minutes to complete (yes, we’ve timed it). Once we have received your details we will contact you within 24-48 hours to inform you of the outcome. Once you are approved and all the paperwork has been received, we will deposit the funds in your account in 24 hours.

How is Beyond Merchant Capital different from a bank?

We understand small business and that your time is a precious. Which is why we have cut the complex paperwork, fine print, interest, hidden fees and approval timeframe. Unlike a traditional bank, we have simplified the loan process. Linking your transactional data to us means we can approve loans within hours not weeks, and approve loans that banks would reject.

Do you check my profile with a credit agency?

We pride ourselves as a responsible lender, which requires us to perform a credit check in order to make informed decisions. But don’t worry, we will alway ask your permission before doing so.

What is required to apply?
  • Photo identification for the owner(s) of the business
  • Operating an Australian business for more than 6 months
  • Minimum turnover of at least $10,000 per month
  • Provide access to your business data via Proviso or:
    • Bank statements for the last 3 months
    • Merchant statements for the last 6 months
I am not eligible, can I reapply?

Absolutely! Once you have met the minimum requirements, we would love to hear from you again.

FEES AND PAYMENTS

Do I incur any fees for receiving funds?

Not at all. The amount we lend you is the amount you receive. No sneaky fees or costs here!

What is the interest rate?

Our business loans and cash advances are not charged have an interest rate. We agree on a total payback amount which is determined by the type of business you operate and the finance term required. Anything above your applied loan amount is called a factor fee.

Do you charge an establishment fee, or have ongoing monthly charges?

Other than our single, agreed factor fee when you take out the loan, we have no other fees or charges whatsoever.

What if I want to pay off the loan faster?

You’re more than welcome to pay off your loan early. There are no penalties or charges.

Is the loan unsecured?

That is correct. Beyond Merchant Capital provide unsecured business loans. We do not require ask you to pledge personal assets against your loan.

SECURITY AND PRIVACY

How is my personal data kept private?

The security of your personal information is important to us. We take all reasonable measures, including electronic and physical security measures, to ensure that your personal information is stored safely to protect it from interference, misuse, loss, unauthorised access, modification or disclosure. Your privacy is our policy.

Why should I trust Beyond Merchant Capital with my Xero business data?

Sometimes in certain cases we may need more detailed information regarding your business to assess your application. Granting us access to a once off, read only 6 month snapshot of:

  • Profit and loss information, for example, sales and expenses
  • Balance sheet information, current and noncurrent
  • Number of employees
  • BAS
Allowing us read-only access to your Xero data, saves you time, effort and the expense of providing this paperwork manually.
Rest assured your the data is encrypted, and we will not have access to any information regarding your inventory, customers or individual employee information.

Is it safe to provide my online bank account login details when applying for a loan?

Beyond Merchant Capital is required by law to review your bank statements before providing a loan. To protect your data we use Proviso:

  • Market leading security
  • A service that is independently tested and audited by external security experts
  • Your data is encrypted with bank level 256-bit encryption, secured by 2048-bit keys
  • Data stays in Australia
Proviso securely handles your login details and data export, providing us with with a view only access to your bank account transaction data over a period of up to 12 month depending on your financial institution.

JOIN OUR PARTNER PROGRAM

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Call us on 1300 142 035 or Chat Live with Our Customer Service Team.

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