Finty
ORDE Financial

ORDE Financial Short-Term Interest Only

Term loan

The ORDE Short-Term Interest Only product provides flexible funding and helps preserve working capital, where a clearly defined exit strategy is available.

Written byDavid Boyd
Interest rate a year, from
9.24%
Establishment fee
Not published
Monthly fee
Not published
Borrow
$100,000 to $5,000,000

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 9.24%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,088
Total repayments
$125,250
Interest
$25,250

Loan details

Rates

Interest rate (a year)
9.24%–9.74%
Rate type
Variable
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
$100,000 to $5,000,000
Loan term
Not published
Establishment fee
Not published
Monthly fee
Not published

How it compares

Against the other business loans we compare. Typical means the middle half of them.

Comparison rate

9.61%

From 9.61%. A typical loan starts at 6.82%.

Most you can borrow

$5,000,000

Typically you can borrow up to $5,000,000.

Pros and cons

Pros

  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.

Cons

  • A higher starting rate. Its comparison rate starts at 9.61%, above the typical 6.82%, so it's likely to cost more than most similar loans unless you're offered less.
  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 9.24% to 9.74%, and only some people get the starting rate.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.