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Bean Café

Jack Beans is a sole trader who recently bought a coffee shop and prides himself on providing his clients with good coffee and great service. He needs some funds to purchase extra items for his business and would like a simple lending solution to help with the cashflow his business needs.

Based on your understanding of Jack’s needs, which product would you recommend?

If you need a hint click on each icon. Then select the most appropriate option and click ‘Submit’.

Jack

Product

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Consider a revolving facility that offers a safety net for businesses by allowing them to withdraw extra funds up to their approved limit. A revolving facility has the ability to capitalise interest and businesses can make a repayment when it matches their cash-flow cycle.

Click 'X' to return to the main screen.
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Pricing

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Pricing for a revolving facility will require a client to pay the following:

  • an establishment fee to set up the account,
  • an interest rate based on the business and its credit risk and
  • a line fee on the overall limit which ensures they can have access to their money 24/7 and also covers things such as capital charges and operating costs.
Click 'X' to return to the main screen.
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Process

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Given the client requires a new product, a full CCL application must be completed in this scenario.

Click 'X' to return to the main screen.
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