Transparent Terms for Your Business Funding
Please read these Terms and Conditions carefully before using SimplyFunded Australia's services or entering into a loan agreement. These terms outline your rights, obligations, and the conditions under which we provide business funding solutions.
These Terms and Conditions are a legal contract between you and Morley Capital Australia Ltd (trading as SimplyFunded Australia). By using our services, you agree to be bound by these terms. If you do not understand any part of these terms, please seek independent legal or financial advice before proceeding.
By accessing or using SimplyFunded Australia's services, applying for a loan, or entering into a loan agreement with us, you agree to be bound by these Terms and Conditions. If you do not agree to these terms, please do not use our services.
You confirm that you are at least 18 years of age, have the legal capacity to enter into binding contracts, and are authorized to represent your business if applying for a business loan.
You acknowledge that you have read, understood, and agree to these Terms and Conditions, along with our Privacy Policy and any specific loan agreement documentation provided to you.
All loan applications are subject to our credit assessment and approval process. Approval is at our sole discretion and we reserve the right to decline any application without providing reasons. Approval does not guarantee funding until all conditions are met.
Once approved, you will receive a formal loan contract detailing the specific terms including loan amount, interest rate, fees, repayment schedule, and other conditions. The loan contract takes precedence over these general terms for specific loan details.
By signing the loan contract and accepting the funds, you enter into a legally binding agreement to repay the loan according to the agreed terms and conditions.
Loans must be used for legitimate business purposes as stated in your application. Misrepresentation of loan purpose may result in immediate repayment demands and potential legal action.
Interest rates are calculated based on your credit profile, business financials, loan amount, and loan term. Rates will be clearly disclosed in your loan contract before you accept the loan. We offer both fixed and variable rate products.
Application fees, if applicable, will be disclosed upfront and are non-refundable regardless of loan approval outcome. These fees cover the cost of processing and assessing your application.
An establishment fee may be charged when your loan is approved and funded. This fee covers administrative costs and will be clearly stated in your loan contract.
Monthly account keeping fees or service fees may apply. All ongoing fees will be detailed in your loan documentation and charged as specified in your agreement.
Late payment fees will be charged if you fail to make repayments on time. The amount will be specified in your loan contract and complies with regulatory limits.
You may repay your loan early. Early repayment fees may apply depending on your loan type and will be disclosed in your contract. Some products allow fee-free early repayment.
Repayments are due according to the schedule in your loan contract, typically weekly, fortnightly, or monthly. The frequency, amount, and due dates will be clearly specified.
Repayments are typically collected via direct debit from your nominated bank account. You must ensure sufficient funds are available on each payment date. Alternative payment arrangements may be available upon request.
If a direct debit fails, you will be notified and a failed payment fee may be charged. You remain responsible for making the payment as soon as possible. Repeated failed payments may result in default proceedings.
If you experience financial difficulties, contact us immediately. We have hardship provisions and may be able to arrange alternative payment arrangements. Early communication is essential.
You must provide accurate, complete, and truthful information in your loan application and throughout the loan term. Providing false or misleading information may result in loan cancellation and legal action.
You must notify us promptly of any material changes to your circumstances, including changes to contact details, business operations, financial position, or ability to meet repayments.
If required by your loan agreement, you must maintain appropriate insurance coverage for your business and provide proof when requested.
You must use the loan funds lawfully and operate your business in compliance with all applicable laws and regulations.
You agree to provide us with access to financial records, bank statements, and other documents reasonably required to monitor the loan or verify compliance with the agreement.
Some loans may be secured against business or personal assets. The security arrangements will be detailed in your loan contract and may include registered security interests over assets or property.
Directors or business owners may be required to provide personal guarantees. By providing a guarantee, you agree to be personally liable for the loan if the business cannot repay.
In the event of default, we reserve the right to enforce security and recover amounts owed by selling secured assets or pursuing guarantors.
Default occurs if you: fail to make repayments when due; breach any term of the loan agreement; provide false information; become insolvent or bankrupt; or if we reasonably believe the loan is at risk.
Upon default, we may: demand immediate repayment of the full outstanding balance; charge default interest and fees; report the default to credit bureaus; commence legal proceedings; and enforce security interests.
Defaults, late payments, and other credit-related information may be reported to credit reporting agencies, which may affect your credit rating and future borrowing capacity.
You are responsible for all reasonable costs we incur in recovering overdue amounts, including legal fees, collection agency fees, and enforcement costs.
We conduct assessments to determine if a loan is suitable and not unsuitable for you. This includes reviewing your financial position, requirements, and objectives to ensure you can meet repayments without substantial hardship.
We comply with the National Consumer Credit Protection Act and the National Credit Code. These laws protect consumers and establish responsible lending obligations.
We provide you with all required disclosures including pre-contractual information, loan contracts, and account statements as required by law.
We collect and use personal and business information in accordance with our Privacy Policy and the Privacy Act 1988. Please refer to our Privacy Policy for detailed information.
We may obtain credit reports from credit reporting agencies and provide information to them as permitted by law. This includes credit applications, credit amounts, repayment history, and defaults.
We implement security measures to protect your information. However, you are responsible for maintaining the confidentiality of your account credentials and notifying us of any unauthorized access.
We grant you a limited, non-exclusive, non-transferable license to access and use our website for its intended purpose. You may not copy, modify, distribute, or commercially exploit the website content.
You must not: use the website for unlawful purposes; attempt to gain unauthorized access; transmit viruses or malicious code; interfere with website functionality; or harvest data without permission.
All content, trademarks, logos, and intellectual property on our website are owned by or licensed to SimplyFunded Australia. Unauthorized use is prohibited.
Our website may contain links to third-party websites. We are not responsible for the content, accuracy, or practices of external sites.
While we strive to maintain continuous service, we do not guarantee uninterrupted access to our website or services. We may suspend or modify services for maintenance or other reasons without liability.
We endeavor to provide accurate information, but do not warrant that all information on our website is complete, current, or error-free. You should verify important information independently.
To the extent permitted by law, we are not liable for indirect, consequential, or incidental damages arising from your use of our services or inability to access services.
Nothing in these terms excludes, restricts, or modifies any consumer guarantees, rights, or remedies available under Australian Consumer Law or other applicable laws that cannot be excluded.
If you have a complaint or dispute, please contact us first. We have an internal dispute resolution process and will work with you to resolve issues promptly and fairly.
If we cannot resolve your complaint internally, you may refer the matter to the Australian Financial Complaints Authority (AFCA), a free independent dispute resolution service.
Australian Financial Complaints Authority - Website: www.afca.org.au | Phone: 1800 931 678 | Email: info@afca.org.au | Mail: GPO Box 3, Melbourne VIC 3001
We may update these Terms and Conditions from time to time. Changes will be posted on our website with the updated 'Last Modified' date. Continued use of our services after changes constitutes acceptance.
Changes to your specific loan agreement terms require mutual written consent, except where we have the right to make changes as specified in your loan contract (such as variable interest rate adjustments).
For material changes affecting existing customers, we will provide reasonable notice as required by law, typically 30 days before changes take effect.
These Terms and Conditions are governed by the laws of South Australia and the Commonwealth of Australia. You submit to the non-exclusive jurisdiction of the courts of South Australia.
If any provision of these terms is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.
These Terms and Conditions, together with your loan contract and our Privacy Policy, constitute the entire agreement between you and SimplyFunded Australia regarding our services.
We may assign or transfer our rights and obligations under these terms or your loan agreement without your consent. You may not assign your obligations without our prior written consent.
Our failure to enforce any right or provision does not constitute a waiver of that right or provision. Waivers must be in writing to be effective.
We're here to help you understand your rights and obligations. Contact us for clarification or seek independent advice.
If you have a complaint that we cannot resolve, you can contact the Australian Financial Complaints Authority (AFCA):
Website: www.afca.org.au
Phone: 1800 931 678
Email: info@afca.org.au
Mail: GPO Box 3, Melbourne VIC 3001
Trading As: SimplyFunded Australia
ABN: 52 691 295 342
AUSTRAC Registration Number: 100913173
Registered Office: 2- 22 Greenhill Road, Wayville, South Australia, 5034, Australia
Important: These Terms and Conditions do not replace or supersede the specific terms contained in your individual loan agreement. Your loan contract will include detailed terms specific to your loan including amount, interest rate, fees, and repayment schedule. In case of any conflict, your loan contract takes precedence.