- Peer-to-peer loans up to $2,000,000
- Low-interest starting from 4.5%
- Repayment up to 10 years
[Accessed May 26, 2023]
ThinCats is a marketplace lending platform that allows businesses to source affordable and flexible finance at lower rates than banks are willing to offer.
Unlike with traditional banks and even alternative online business loan providers, the finance doesn’t come from a corporation but from everyday professionals looking for a larger return on investment.
An experienced management team
ThinCats boasts an experienced management team that includes names like Sunil Aranha who has over 25 years of SME banking experience and Frank Willenberg who has over 35 years of experience in various financial and property industries. With a team like that found at ThinCats, it’s no wonder the banks are starting to worry!
Offering secured business loans to a range of businesses
ThinCats offers secured business finance – meaning that in order to apply for credit a business must be able to put up some form of security in the form of property.
Interested business owners and directors can download a key guidelines document from their website to ensure they comply with the minimum application requirements.
ThinCats is a peer-to-peer lender that was originally founded in the United Kingdom. They have a very experienced, successful and enthusiastic leadership team and are certainly trusted by many in the finance industry to perform outstandingly.
Secured business loans 100% online
If you’re a business owner looking for flexible finance at a lower interest rate than your bank is willing to offer you should definitely give ThinCats a chance.
They offer peer-to-peer credit for businesses from $100,000 to $2 million which is a much larger loan range than you’ll find at their major P2P competitors.
Business and loan purposes accepted by ThinCats
ThinCats will offer quick loans to businesses operating in virtually any industry including property development, construction, retailers and manufacturing sectors with the exclusion of finance companies.
What’s unique with this lending platform is that they also accept an application from startups – provided they have a very experienced management and founding team.
Loan terms of between 24 and 60 month
P2P lender ThinCats offers business loans that carry interest rates of between 11% and 16%. Loan terms are flexible and range between 24 and 60 months depending on the needs of the borrowers, the loan amount and the financial history of the business.
ThinCats – Peer-to-peer loan
- Loan Type Peer-to-peer loans
- Interest Rate from 4.5%
- Loan Amount up to $2,000,000
- Repayment 36 months to 10 years
Benefits of ThinCats
- Apply online within a few minutes
- Low interest starting from 4.5%
- A reliable peer-to-peer platform
Peer-to-peer loan calculator
Get a quick peer-to-peer loan and you will receive added benefits
One of the primary features of a marketplace lender is that they have significantly lower operational costs and allow all potential borrowers to make their loan applications online.
Applying for a business loan – what you’ll need
In order to apply for a business loan with this company, borrowers must be able to provide a range of business details and historical information.
This information includes their quarterly management accounts, their financial spreadsheets, cash flow projections and full details on any existing assets and debts.
How your loan will be funded once you’re approved
Once your details have been verified and the ThinCats team has decided that you are indeed eligible to apply for a loan via their online platform your loan request will be listed on the platform.
Investors will then begin to “buy” varying amounts of the loan. Once the loan is fully funded the team will then pay the loan amount to you, the borrower.
Transparency is key from the start
It’s quite easy to conclude that this P2P lender is transparent when it comes to interest rates and fees as all important information is included on their website in an easy-to-find and easy-to-digest manner.
Their fee is currently 4.5% of the business loan amount and a monthly fee of 0.5% or more depending on loan size.
Is your information protected?
Every information that you provide them during your peer-to-peer loan is exactly for that – to ensure that you meet their credit requirements and they approve your loan. After that, your information will be protected and put in their database for record purposes.
It makes the loan process a lot easier when you want to apply for credit in future again. Nobody else will know about the details of your loan application. Everything they do with their customers is private and confidential.
What if you would like to apply for a secondary peer-to-peer loan
Should a relevant need arise, you might find that you need to apply for a second loan while you still have an existing credit plan. They need to check whether you have been paying your existing advance well and whether your credibility can afford another loan.
If everything clears, they will approve your loan application and you have to ensure that you pay your loans timeously.
Why was your peer-to-peer loan rejected?
There are a number of reasons why your loan peer to peer loan might be declined. The most common reason is usually a lack of affordability on the customer’s side.
ThinCats is a trusted & reliable provider of peer-to-peer loans
In our review, ThinCats adheres to the compliance criteria in accordance with the National Consumer Protection Act, where the granting the loan will not cause financial distress to the consumer.
✅ ThinCats is a registered credit provider in Australia: ACL 488196
Customer Reviews & Testimonials
ThinCats ensured that I get a peer to peer loan that was not only affordable but also had ridiculously low-interest rates!
— Broken Hill —
I would recommend ThinCats to anybody who's looking for professional and friendly staff during their peer to peer loan application.
— Geelong —
With ThinCats, I knew I would never go wrong. My loan application was approved in one business day!
— Dubbo —