Finty
The Capricornian

The Capricornian Home Equity Business Loan

Term loan

We can assist with sole trader or small business markets. We are keen to take your business to the next level.

Written byDavid Boyd
Interest rate a year, from
8.35%
Establishment fee
$500
Monthly fee
$50
Borrow
Not published

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 8.35%, including the monthly fee. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,094
Total repayments
$125,666
Interest and monthly fees
$25,666

Loan details

Rates

Interest rate (a year)
8.35%
Rate type
Variable
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
Not published
Loan term
Not published
Establishment fee
$500
Monthly fee
$50

How it compares

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

Cost of $20,000 over 5 years

$8,033

Interest and fees at its starting rate. Typical is $4,473.

Setup fee

$500

A typical setup fee is $26.

Monthly fee

$50

A typical monthly fee is $25.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.35%, so the rate you see is the rate you get.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A higher setup fee. $500, above the typical $26. It's usually added to the loan, so you pay interest on it too.
  • A $50 monthly fee. That adds $3,000 over 5 years, as well as the interest.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • A $20 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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