FAQ

Are Funderly.com.au fees tax deductible?

Yes - similar to interest payments, our fees are tax deductible expenses if used in the running of your business. Check with your accountant to be sure.

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How are the fees determined?

The fees are calculated at an affordable rate per day (minimum 30 days) and there is no up front cash required from you. Call our office for a schedule of our fees.

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How do I receive the funds?

Cleared funds will can be electronically transfered to a nominated bank account within 24 hours of receiving necessary paperwork.

How much can I borrow?

You can borrow up to $250,000 over a term of 3, 6, 9 or 12 months, or even 2 years in some cases. Our avarage loan term is 12 months.

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How quickly do I get paid?

Funderly.com.au pays within 24 hours of receipt of the necessary paperwork.

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Is the service confidential?

Yes. The service is totally confidential.

Must I sign up for a minimum period?

No. You can payout at anytime without penalty.

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How do I repay Funderly.com.au?

Your weekly repayment amount will be determined by the amount you’re borrowing, as well as your repayment period. This will be provided to you in the quote before proceeding.

Are there any penalties for repaying the loan early?

You can choose to repay the entire outstanding amount of your loan early, at any time. When you repay the remainder of your loan early, we may provide you with a discount on the remaining interest.

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How do I make repayments?

Repayments are based on a pre-agreed weekly repayment schedule and collected by Direct Debit.

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Wouldn't a bank loan make more sense?

Banks often have restrictive lending requirements relating to cash flow, profitability, equity and years in business, which prohibit them from making loans. SpotFactor.me is not in the lending business. The decision to fund your cash flow has nothing to do with your performance, years in business or financial strength.

Is sharing my bank account details with Funderly secure?

When you provide us with access to your bank account, we use industry-leading financial management platforms with multiple layers of encryption and security best practice, ensuring your data is kept safe at all times. We do not have access to your passwords and treat all of your data with the utmost care.

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If I use your service, will our customers think we are having financial difficulties?

Absolutely not. This method of financing has become so popular that your customers may have already heard of it, or use it themselves. In fact over thousands of companies Australia wide use a similiar service.