ThinCats, Australia’s First Peer to Business Lending Platform Funds Largest Loan to Date – $500k @13% p.a. to a Public Company

We have just completed the funding of our largest loan to date within the stipulated listing period of 2 weeks. The loan for $500k @ 13% p.a. to be repaid with principal and interest over 60 months, was arranged for a public unlisted company, secured by real estate and personal guarantees of the majority shareholder/directors. 28 lenders (a small fraction of our over 350 lenders and their Self-Managed Super Funds) participated in this loan opportunity, investing an average of $18k each.

A truly fantastic result for our unique Peer to Business lending platform, as we embark on a growth phase with a number of loans between $50k to $300k to be listed over the next few weeks.

This is a good opportunity for you to consider becoming a lending member on the ThinCats platform and participate with fractional lending (to diversify risk) on secured loans, specifically for medium and longer term growth finance to a diverse range of Australian SME’s at attractive yields (13.9% weighted average yield on 25 loans totalling $3.25m since we commenced operations in early 2015) and no  defaults thus far.

To find out more go to www.thincats.com.au, read the information available via the “lending” tab and if you are a wholesale investor please register to become a member. Remember, registration is free and we do not take a spread on loans i.e. you earn exactly the full interest rate paid by the borrower whilst we earn a fee (charged to the borrower) for arranging the loan. And most importantly, unlike other platforms, we put up all the financials, a detailed Information Memorandum, Asset and Liability statements and Credit Bureau checks on all loans listed and you get to decide – to whom and how much you wish to lend (minimum $1k).