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Last Wednesday, the Treasurer, Josh Frydenburg, announced that all businesses with a turnover of up to $250m will now be eligible for SMEG3 loans.
This is great news as Moneytech is an approved lender under the SMEG 3 loan program but more importantly, for customers who are after one of their Low Doc Lines of credit, it now means:
- Facility limits can go as high as $500,000 for eligible customers
- Pricing is now a flat rate for all customers:
- 50% interest pa
- 95% service fee
- $50-$75 a month account fee
- $795 application fee
*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.