Disclosure Statement: Financial Lenders Information by Loan Link Limited

This Disclosure Statement provides you with essential information regarding the services offered by Loan Link Limited (‘Loan Link’, ‘we’, ‘us’, and ‘our’). This Disclosure Statement was prepared on 19/09/2024.

About Us

Name of Financial Service Provider (FSP): Loan Link Limited

Trading as: Loan Link

FSPR Number: FSP1008359

Contact Person: Emil George

Phone: 022 326 7715

Email: info@loanlink.co.nz

Licensing Information

Loan Link Limited is registered with the Financial Service Providers Register (FSPR) as a Financial Service Provider (FSP). It is important to clarify that Loan Link Limited is not a licensed financial adviser and does not provide financial advice. Our expertise lies in commercial finance and business loans, but we do not offer personal loans or consumer finance.

Nature and Scope of Services

Loan Link Limited specializes in providing asset finance services and working capital loans specifically targeting businesses throughout New Zealand. The key services we proudly offer include:

- Loans for business vehicles and equipment (e.g. trucks, buses, diggers, drilling machines, and more)

- Loans for machinery and other vital business assets

- Business working capital loans

Banks and Lenders We Use

We source finance options from a panel of trusted lenders, which may include:

- Heartland Bank

- Flexi Commercial

- BizCap

- Prospa

(Our panel of lenders may vary, and we will recommend the most suitable lender based on your business’s specific needs.)

Fees and Expenses

Loan Link Limited may charge fees on a case-by-case basis for arranging business loans. These fees will be disclosed upfront and agreed upon with you prior to proceeding. The fee can vary depending on the complexity of the application and the loan amount.

In most situations, we receive a commission from the lender once your business loan is settled. However, if the lender’s commission does not cover our costs, we may apply a fee to bridge that gap. Rest assured, any fees will be transparently communicated and authorized by you in writing.

Other Fees

Below is additional information on specific scenarios where a one-off fee may be charged while arranging asset finance or business lending, particularly when the lender does not pay any commission.

- Unsecured Loans: For unsecured loans, a fee of 1% of the loan amount will be charged, with a minimum fee of $1,500. This fee may be added to the loan or invoiced separately.

- Business Loans: A fee of 1% of the loan amount will apply to business loans (e.g., purchasing a business). This fee is added to the loan or invoiced separately, as banks and lenders typically do not pay commission on business lending.

- Development Funding and Non-Bank Loans: A fee of 1% will be charged for development funding loans or non-bank loans—including those for commercial property—either added to the loan or invoiced separately. (This fee does not apply to asset finance, as the lender pays commission in those cases.)

- Asset Finance Commission Clawback: For asset finance, my commission may be clawed back if the loan is settled within the first half of the loan term or refinanced without my involvement. For instance, on a 4-year loan, no clawback applies after the first 2 years. The clawback is calculated on a pro-rata basis and decreases daily. Any clawback amount will be payable upon early settlement, usually included in the lender’s settlement quote but invoiced separately by us.

Conflicts of Interest and Commissions

Loan Link Limited typically receives a commission from the lender when your loan is approved and settled. This commission varies based on the lender and the loan amount. We handle potential conflicts of interest by:

- Always recommending the most suitable product for your business’s needs.

- Ensuring that any loan amount aligns with your business requirements.

Privacy Policy & Security

We collect personal information in accordance with our Privacy Policy. All personal information shared with us is treated confidentially and securely. We do not disclose any information without your consent unless required by law or in adherence to our Privacy Policy.

Complaints Process

If you have any complaints regarding our services, please reach out to us using the details provided below. We will acknowledge receipt of your complaint within 24 hours and work diligently to resolve it promptly. If we are unable to resolve your complaint, you have the option to refer it to our external dispute resolution service, Financial Services Complaints Limited (FSCL), at no cost to you.

Email: info@loanlink.co.nz

Phone: 022 326 7715

FSCL Contact: complaints@fscl.org.nz | 0800 347 257

Our Duties

Although Loan Link Limited is not a financial adviser, we are dedicated to acting in your best interests by:

- Offering appropriate finance options tailored for your business.

- Providing clear and honest communication.

- Acting with integrity and professionalism in all our dealings.

Availability of Information

This Disclosure Statement can be provided in hard copy upon request. Please contact us at info@loanlink.co.nz if you would like a copy or have any questions.