Frequently Asked Questions
If you can’t find the answer to your question here, please contact us or email us at submissions@lendmigo.com.
Do I need collateral to secure a loan with Lendmigo?
We offer both secured and unsecured loan options, giving businesses the flexibility to choose the solution that works best for their circumstances and financial goals.
What documents are needed to apply for a loan with Lendmigo?
Applying for a loan with Lendmigo is simple and requires only a few key documents, such as your last 4 months worth of bank statements, proof of identification, and an ABN/ACN. In most cases, these basic documents are all we need to process your application quickly.
Does Lendmigo charge any fees during the application process?
No, Lendmigo does not charge any application or assessment fees. We believe in complete transparency and ensure you are informed upfront of any costs associated with your loan, so there are no surprises.
Can clients repay their loans early without penalties?
Absolutely! At Lendmigo, we encourage early repayments by offering discounts as an incentive. Unlike many other lenders, we do not penalize clients for paying off their loans ahead of schedule.
Does Lendmigo offer loans to businesses with bad credit?
Lendmigo takes a holistic approach to evaluating loan applications, focusing on overall business performance, cash flow, and potential. Even businesses with less-than-perfect credit histories are welcome to apply.
What happens if my client struggles to make a repayment?
If a client encounters difficulty making repayments, we recommend they contact us immediately. Our team is committed to finding solutions, which may include restructuring repayment plans or offering temporary flexibility to help them manage their loan obligations.
Is there a limit to how often clients can apply for loans with Lendmigo?
No, there is no limit to the number of times a client can apply for funding. As long as they meet our eligibility criteria, they are welcome to reapply for additional loans or request top-ups and renewals on existing ones.
How does Lendmigo ensure the privacy and security of my client’s information?
At Lendmigo, we take privacy and security seriously. We use advanced encryption technologies and follow strict confidentiality protocols to ensure all client data is protected at every stage of the loan process.
