Spread Payment Solutions
If you are looking for a loan to buy goods or services from a business that provides the Fee Funders spread payment loan services, then read below for loan details and also feel free to contact us for any additional information you require.
For business you simply pay a flat interest rate of 2.33% of the funded amount per monthly installment.
Eg. Funded amount x 2.33% = the interest you pay every month you have the loan.
For personal loan funding you pay an interest rate of 2.33% per month. (27.96% per annum).
Eg.
$1000 Loan over 6 months = $180.52 monthly payments (inc $83.11 total interest)
$2000 Loan over 6 months = $361.04 monthly payments (inc $166.23 total interest)
Yes, a one-off $165 setup fee is added to the first payment or spread across all payment (depending on service). If your application is declined no application fee is charged. The setup fee and amount is detailed in your application documents.
You can choose to spread payment over 3, 6, 9 or 12 months.
Not normally. We specialise in short term loans, however if your loan is causing you hardship, please contact us to discuss longer terms for repayment.
Yes. You can settle your loan in full at anytime by simply contacting us arranging to do so.
Yes, subject to approval.
Once a loan is in place, it’s difficult to alter the funding figures, so the easiest way is to start a new loan for the added amount and to have two loans running in parallel.
yes we credit check all customers for verification purposes and for our internal loan qualification procedures.
With our online loan application is processed and setup ready to go from the moment you press the “submit” button. We perform background checks shortly after receiving the application. Your first payment won’t be made for 3 days, so we may contact you prior with questions and verification, otherwise assume you’ve been approved.
All payments are made via monthly Direct Debit from your bank account.
The first payment starts within 3 days after the signup date and continue monthly after that. You can set this date, when you confirm the loan with us.
Our systems are robust and we have a dedicated Direct Debiting team that manage all payments. The computer system knows when your payment is due and “notices” if it misses. It will automatically send you a text or email message to say that your payment missed and will give you details on how to catch up and make payment. You can email or call us anytime to discuss the issue on [email protected] or 0800 333 729. Out team will also follow up if you begin to have issues with payments.
Not usually. We understand that sometimes life happens and we do all we can to work with you to ensure your payments are caught up to date and manageable for you.
Simply contact our Direct Debiting team and they can update it for you to ensure your payments continue uninterrupted.
You will be given full contact details of our Direct Debiting team once your application has been submitted/approved, call us on 0800 333 729, email us [email protected]
We pay the money directly to your invoice supplier within 4 days after your first successful direct debit.
You only pay interest for the months you’ve used the loan.
There is a $125 Settlement Admin Fee payable to cover our processing costs.
We can only fund the invoices of businesses who have signed up with us. If you’d like to fund an invoice from a business that is not yet one of our clients please suggest they contact us on admin@feefunders.co.nz and we’d be happy to show them the benefits of signing with us. (it’s free for them to do so!)… or let us know their details and we’ll follow them up for you.
No please don’t stop payments. Your relationship with service provider (who’s invoice you’re funding) is separate to your funding relationship with us. If you are unhappy, although unfortunate, that doesn’t negate your responsibility to honour your loan repayments to us.
Eg. Just like a house or car loan, if your car breaks down or your house burns down, it doesn’t cancel your mortgage/car loan.
No, we are not a credit card. We are structured differently. Credit Card companies aim for you to have a balance owing for as long as possible (that’s where they make their money!). We are short term loan providers. We WANT you to pay your loan off. It is a specific loan for a specific reason – unlike the open-ended nature of credit cards.
Aurelium Capital Ltd is committed to being a responsible lending company and is a registered member of the Financial Service Provider Register, as well as the Financial Dispute Resolution Scheme.
AURELIUM CAPITAL LIMITED (FSP1004789) and a Member of
Level 4, Sybase House, 101 Lambton Quay, Wellington 6011
https://www.fscl.org.nz
Yes we are a Registered Financial Service Provider – AURELIUM CAPITAL LIMITED (FSP1004789) and a Member of
Level 4, Sybase House, 101 Lambton Quay, Wellington 6011
https://www.fscl.org.nz
Interest Rate – Personal -Standard 2.33% per month.
Debt Collection Lodgement Fee $225.00
If we need to place your debt will a debt collection company.