The new generation of Banjo Loan financial products


Promoted by Banjo Loans2 minute read

Banjo loans

09:52, March 2, 2022

2 minute read

Banjo Loans supports and works closely with finance brokers to help finance their SME clients faster. Our goal is to enable brokers to respond quickly and simply to the financing needs of their clients.

Banjo listens to market needs and constantly seeks to improve its solutions to help businesses. We are excited to announce some exciting new additions to our new working capital solutions:

  • Loans up to $1 million. As your SME grows, its working capital needs increase. Banjo now caters to businesses with a larger loan amount of up to $1 million unsecured*.
  • Increase in the term of the loan up to 36 months. SMBs that are not paid within 12-18 months can now choose this option to better align with their cash flow cycle.
  • Simpler applications for loans up to $150,000. If your client needs a short period of financing now, Banjo offers this easy-to-access, low-document financing option*.

Banjo now offers larger working capital loans up to $1 million over a 36 month term with flexible repayment terms (weekly, biweekly, and monthly)

Unlike traditional lending institutions that can take weeks or even months to approve loans of this size, Banjo can approve loans in days.

While businesses with a longer cash cycle and greater funding needs can now access Banjo’s longer term working capital loans of up to 36 months.

Additionally, if a business structure has multiple operating entities, a client has the option of trying to obtain loans greater than $1 million.

Banjo’s Single Payment is a one-stop bridge financing solution for SMEs that need access to working capital financing prior to settlement.

Single Pay helps your customers by offering 2-6 month loans with interest-only reimbursement. The principal is paid when the loan matures.

Some scenarios where your customers might need a one-time payment loan include:

  • refinance between banks
  • pending payment of the property sold
  • waiting for a capital injection
  • sale of property, equipment or business.

Single Pay is suitable for customers needing short-term financing, with a quick turnaround.

Introducing Banjo Express: A faster, low-doc loan option than traditional Banjo loans.

Banjo Express is our latest offering and currently offers loans up to $150,000, requiring limited commercial financial documentation. Funding decisions are fast. In some cases, a decision may only take a few hours, with funds deposited into your client’s bank within 24 hours. Banjo Express is ideal for smaller loan amounts or for your clients who have an opportunity they don’t want to miss.

A recent Banjo customer from NSW needed financing to purchase a bespoke 21 year old military truck from WA. The customer was a railway engineering company that needed this vehicle to haul and transport heavy train parts. Unfortunately, due to the age and uniqueness of the asset, the client’s finances have plummeted. Banjo was able to help the business and provided a Banjo Express loan of $85,000 for 12 months within 24 hours.

* Disclaimer: Fees, loan criteria, terms and conditions apply (including origination fees on each advance). Actual fixed charges (or interest charges) and reimbursements will vary depending on your personal circumstances. The advertised prices are subject to change at any time. Fixed fees (or interest charges) accrue up front and are paid in instalments. Although Banjo does not generally take security over assets, administrator guarantees may be required and a general security deed or other security may be required for larger loans or in respect of certain types of loans. Statements regarding timing of applications, approvals and funding are indicative only. Any advice given does not take into account your personal circumstances and you should carefully consider which products are suitable for you and seek professional advice where appropriate.

The new generation of Banjo Loan financial products

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Last update: March 28, 2022

Posted: March 02, 2022


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