ThinCats Business Loan Review
In this review, we’ll be discussing Australian lending company, ThinCats. We’ll be going over the application process, the kind of loans ThinCats offers, and their customer reviews.
ThinCats Review in Numbers
|Australian Business Number (ABN):||87169752747|
|Australian Credit License:||169752747|
|Loan amount:||$100,000 to $2,000,000|
|Loan term:||6 months to 5 years|
|Unsecured Loans Offered?||Primarily offer secured loans|
|Easy Online Application:||Yes|
|Response Normally Within:||24 Hours|
|Documents Required to Apply:||An ABN/ACN, identification, accounting information, business growth plan|
|Requirements to Apply:||Good credit, experience in business, a plan for growth|
|Minimal Interest Rates:||4.5%|
|General Feedback from Clients Online:||All reviews found online for ThinCats were incredibly positive.|
|Awards and Recognition:||None that we could find.|
ThinCats’s founder, Sunil Aranha, has over 25 years of experience in the tech and SME sector. ThinCats UK was founded in 2010, and have a unique set-up where they offer fixed-income-based repayment plans. Sunil Aranha developed ThinCats in order to establish a different kind of lending company – a peer-to-peer lender available for small business owners in Australia. While other peer-to-peer (P2P) lending companies exist in Australia, ThinCats is by far the most popular and, by all counts, the most successful.
🏆 From what we’ve seen so far they offer the best interest rates in the business! 4.5% minimum is just incredible! 🏆
ThinCats has a large team of professionals and an international-reach. Their unique repayment plans and long-term loans sets them apart from the competition, and they’re incredibly open with borrowers. They’re so open, in fact, that they list the key statistics of the last 10 loans they closed on their website at all times.
They also offer peer-to-peer lending, which not very many Australian business loan lenders can say. However, Australia is one of the biggest nations in the world who has several P2P lenders available for borrowers to pick from. ThinCats was one of the first lenders on the P2P scene.
Thus far, ThinCats has approved over $8 million in loans, and has an average of 22 lenders per loan. This system helps borrowers gain a lower interest rate, and lenders gain less risk as they’re spreading out the loan across multiple lending parties. Their average loan is approximately $5,400, although they offer loans up to $2,000,000.
Banjo Client Reviews
-Business Loan Companies – 3/3 Stars (Good)
-P2P Money – 4.5/5 Stars (Good)
Analysis of Client Reviews:
: ThinCats has received several media accolades, as well as many wonderful client reviews online. Their P2P lending system is a hit with borrowers and investors alike. Additionally, their fixed-repayment options make it much easier for business owners to estimate their expenses moving forward.
Borrowers aren’t the only one giving ThinCats rave reviews. Lenders are also big fans of their P2P system, and the ability to invest in Australian small businesses without taking on all of the risk of going it alone. This is positive for both borrowers and lenders, and is a system that has clearly worked for ThinCats (as well as other, smaller P2P lenders in Australia and worldwide).
Borrowers should look favorably on ThinCats. Not only do they offer reasonable interest rates and a wide range of loan amounts, they’re an incredibly established lender with many positive reviews. This can’t be said for all Australian small business loan companies, and so borrowers and lenders alike should take note.
Capify Loan Compatibility
- Startup: No. ThinCats prefers experienced business owners.
- Bad credit: No.
- Sole trader: Yes.
- Established business: Yes.