MoneyLoop's frequently asked questions!
How long can my customers take to repay their loan?
We offer payment arrangements between 2 months and 4 months. However, we can negotiate other durations with each individual insurer.
What is the maximum size excess you support?
We are happy to finance excesses of any size. We have had some as small as $300 and others as large as $50,000
How do my customers make their repayments?
When customers finalise their plan with you, they will be required to nominate a payment source. We typically want a debit/or credit card to be provided.
How hard is it to get started with MoneyLoop?
We have an easy to implement API endpoint and an online dashboard that allows you to get started today! Just contact us today to learn more!
What if my customers don't repay their debt?
We will inform you that your customer has not met their responsibilities to repay their debt. You will also be able to track a customers repayment history via the dashboard provided.
If my customer doesn't pay MoneyLoop back, do i??
No, you do not have to pay MoneyLoop any money if a customer doesn't meet their obligations. We take all of the credit risk associated with this product.
How does MoneyLoop make money?
We request that you provide us with a discount depending on the duration you wish to allow your customers to repay their loan over. We will settle the upfront excess with you, and then recover the debt from the customer interest-free over the requested repayment period.Contact us today!