That's right.
- Both the Market Rate Loan (MRL) and Better Business loan (BBL) are suitable depending on the client and their needs.
- A BBL is suitable for clients that are after a simple term debt option, with a set repayment (similar to a home loan). A BBL offers the client a single interest rate and this includes all costs and capital requirements.
- An MRL is based off BBSY or the CBA market rate and is suitable for clients who want to borrow more than $500,000 and want a rate based off the market, as they monitor it on a regular basis. The MRL allows the client to manage their borrowings under one facility limit and pricing consists of a line fee, liquidity fee and a rate reset fee (when the reset period is less than 3 months).
MRL
Rate Build-Up
Reset Fee
BBL
Rate Build-Up
Rate
Not quite.
A Business Line of Credit is a revolving facility offering flexibility, value and control. It offers the flexibility of no set term and no set repayment making it an unsuitable product solution for a business that is looking to preserve cash flow and gradually pay the facility/loan, over a longer term.
Not quite.
Viridian Line of Credit is a product tailored for individual purposes and should never be used for a business purpose.
