Clearer on costs,
and required information for different sized loans

At Swishfund, we value clarity. That’s why we tell you exactly what to expect when you apply for a business loan with us. Below is a summary of key points, but you can read more detail here.

Arrangement Fee
The Arrangement Fee covers our costs of marketing, onboarding, credit assessment and processing. The Arrangement fee may be split with a broker or introducer at a ratio that we have negotiated commercially with them.

The Arrangement Fee is added to the loan, so you do not have to find the cash for it. However, this does mean that it also accrues interest at the same rate of the loan.

The Premium / Interest Rate
The exact rate depends on the output from our Risk-Based Pricing Model. The model takes into account the following factors.

  • The loan amount
  • The term of the loan
  • The financial health of your business
  • The financial health of the main directors/shareholders
  • Any security that you or the business are happy to provide

Our loans start with an interest rate from 1.1% per month. Our loans will never exceed 3% per month (unlike many of our competitors), since if we think the risk is too high then we do not think that it is ethical to lend.

Your repayments

The interest is paid on the original loan amount throughout the term of the loan. However, we also apply exactly the same amount of Arrangement Fee, Interest and Principal to every repayment, spread equally across the term of the loan. This means that when you are halfway through the term, you will have repaid half the Arrangement Fee and half the Principal.

Other lenders, especially those who only charge interest on the outstanding balance, will "front-load" the interest, so that you pay a much higher proportion of interest at the start of the loan than at the end. This means that when you are halfway through the term, you will have repaid much less than half the loan (and will have a much larger early settlement figure than if you had been with Swishfund).

With Swishfund, you know exactly where you stand.

Early settlement

Want to repay early? That's no problem either. We don’t charge any early settlement fees. You only have to pay the interest up to the end of the calendar month of settlement. So, if you settle at the end of the month there will be no extra interest to pay!

What do we need from you?
We need the following information in the table below, in order to get you the best offer in the market. We try to keep this as simple as possible, and only ask for what’s truly necessary. After all, your time is valuable too.

Necessities

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Ready to take the next step?

Apply for a business loan in just 5 minutes and receive the funds in your account within 24 hours.

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