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Property Loans 101

Nothing here but the basic facts

Welcome to the business end of a property loan with Fico. This sections covers all the easy stuff and should help answer any initial questions you may have.


Let’s get one thing straight right from the beginning, property and development loans are our business and, like you, we are business people (not bankers), so we only make money when we say yes, and that is why we love saying yes – it just makes good business for everyone concerned.

We only offer property and development loans between $50,000 and $2,000,000 and our current interest rates start at 10.95%.

Property Loan FAQs (click on the questions for your answer)

A heap.


We’d like to think it’s a friendlier and much quicker service. Like you, we want to spend our time doing business so you won’t wait 6 weeks for your loan to be approved (or denied) at Fico Finance. In fact, once we have your completed application form and documents we can approve your loan within minutes and (in the majority of cases) have the money in your bank within 24 hours.


At Fico you always deal with the decision maker, this means we can consider your business loan application and circumstances very carefully throughout the application process. And because we are a business run by business people, and not a bank run by bankers we specialise in listening to what our clients are actually saying and how this works in the ‘real’ business world.


We also think it makes good business to reward those wanting to repay loans ahead of time, so there’s no charges if you make a lump sum payment.


Another difference is our mission to keep paperwork and documentation down to the smallest, legal amount. We also endeavour to create forms that are easy to follow and fill out.


When things change (as they constantly do in business) we are always here to talk to if needed, and unlike some others we will actually listen.

Our property and development loands are generally between $50,000 and $1,500,000. The amount you can borrow is dependent on the security you have available and your ability to repay the actual loan. But if you need something between these two amounts let’s get together and talk business.


As a responsible lender we also need to be confident that you can comfortably afford the loan repayments. Even though this sounds like a bit of a ‘no brainer’, we want to make sure that you are able to repay the loan.

Because it makes good business sense.


The more information we can get from you, the better our understanding – the better our understanding, the more tailored and suitable our terms will be.


There are a multitude of reasons why your business may need cash right now. So we want as much detail as possible to gain insight into your current situation and all the circumstances that effect the overall business, it’s performance and operation.


We also believe open and honest communication is the best way to start a solid relationship that works for everyone involved.

Whatever your business or property development project requires.


Preliminary development costs, construction costs, unexpected costs, expansion opportunties, extra stock, purchasing controlling share of business – there are endless reasons why you may need a business loan from Fico.


Let’s be really clear, we are in business to do business – so when we ask questions during your application meeting we’re not being nosey, we just need to know what your loan is for. The questions are all there to gain a better understanding of your business operation, the circumstances and your current financial situation.


So if you don’t mind talking business with us, we will certainly listen and do everything we possibly can.



We are in the lending business (not the ‘gifting’) so we require you to be able to make the repayments.

The principals of the business cannot be an undischarged bankrupt.

Your actual loan

The business of banker free borrowing explained

We have tried to make getting a business loan from Fico as easy as possible – it’s as simple as 1, 2 and then 3.


From 1) understanding what sort of loans we have, to 2) our ‘easy to follow’ paperwork and application (not an interrogation) process, right through to 3) having your loan funds available within 24 hours.


We believe this is the best way to get a business loan. 1) Fast, 2) Easy, and 3) Banker Free.

Repayment FAQ's (click on the questions for your answer)



We will look at any commercial borrowing situation on its own merits.


We have a comprehensive suite of business loan options available. Below is a list of our loan types;


Standard Business Loans
Traditional loan that most business people are familiar with. The loan is repaid in equal instalments, these instalments include principal and interest and are repaid over an agreed term, of up to 36 months.


Short Term Loans
Usually interest only repayments with principal payment on settlement. This principal repayment is known in the industry as a Balloon Payment.


Bridging Finance
Similar to a short term loan. Bridging finance is used most commonly to help pay for a property before you have received funds from a sale.


Investment Property Finance
Offers a variety of flexible solutions.


This is an overview of our business loans. If you need more information, have a question, or would like to discuss your requirements in more detail just give us a call on 03 548 9932 for a chat with Scott Dodd.

Business loans start at 8.95%.


Our rates vary because they are dependent on the security you can offer for your loan and the circumstances.


Because our business is all about lending money to businesses, you can be confident that when you talk to us we will deliver the best possible financial solution and interest rate for your current situation.

Fico Finance recognises security is typically vehicles and property.


But we will consider plant and machinery and other business assets of the operation. Just as long as they are reasonable and make good business sense.


All security used must be insured, Fico Finance does not do unsecured Commercial loans. With no security, there’s no loan, easy as that.


Death Cover on the key personnel within the business operation may also be required for the term of the loan.

Aggghhhhh everyone hates paperwork, so at Fico we have kept it to the bare (and legal) minimum.


We try to keep the paperwork down to as little as possible. We understand every hour spent doing paperwork, is an hour not doing business. Download our Application Form and see how we’ve made it as clear, and as easy to fill out as possible.


The 3 essential pieces for a Business Loan approval are:
• Completed Fico Finance Loan Application (DOWNLOAD BUSINESS LOAN PDF HERE)
• Last 3 months of Bank Statements
• Proof of ID of Directors and Shareholders


*Note: Certain Business Loans may require a visit and this could make our 24 hour approval impossible, if this is the case rest assured we will do everything humanly possible to speed the process.


There are also 2 other pieces of paperwork we require to see before placing your loan into your bank account. 1) proof that Fico Finance has been noted on all insurance policies that are associated with loan approval and 2) your bank account number (so we can put the money where you want it).



At Fico we pride ourselves on being upfront and open with you at all times.


Full details of all fees and the interest rate are clearly set out in the loan agreement we prepare once your loan has been approved. Everything is right in front of you in black and white.


Covers the cost of processing and approving your finance application. It is scaled on the amount borrowed, securities and administration involved in the process.


Account Maintenance
Covers the administrative cost of keeping your loan active. Account Maintenance fees start at $10 a month.


Security Registration on the Personal Property Security Register (PPSR)
We do not charge this separately, it is included in our Establishment Fee. Mortgages and other real estate related securities are charged at actual cost.


Early Settlement
We have a reasonable administration charge to close the loan early. This starts from $250. Please note; there is no interest penalty for you to pay your loan off earlier than the original agreement (interest is charged on a daily basis only).

Yes, of course you can.


And the great news is there are NO penalty fees involved. There is just a small administration charge required to finalise and close your loan file.


Please note; there is no interest penalty for you to pay your loan off earlier than the original agreement (interest is charged on a daily basis only).

We will advise you of the Terms and Conditions, either by way of a phone call, meeting or a formal “Letter of Offer”.


Once accepted by you, and all conditions of the loan offer met we will prepare the loan documents for signing and:
1) arrange a meeting for you to call and sign, or
2) Send them to your lawyer for signing. This is normally the case where complex mortgage security is involved.


Following the execution of the documents the funds will be distributed in accordance with the agreement.

The Repayments

All the information, as painless as possible

Repayments of all Fico business loans are done by Direct Debit (DD).


This is arranged before you sign the official loan document. Because DD’s are regularly scheduled and automatically performed by your bank you have no headaches about trying to remember dates, amounts, or when they’re due.

Repayment FAQ's (click on the questions for your answer)

We choose, but it will be by either Automatic Payment or Direct Debit.


We have found that these are the easiest ways to repay your loan. Payments are set up from a nominated bank account at the start of your loan term and happen automatically.


Easy as that.

How long does the business need?


At Fico you can choose the term of your loan. This can be anywhere from 1 to 36 months (3 years).


The actual term is usually dictated by your ability to make the repayments. The longer you take to pay, the lower the repayment amount – which goes to prove that old saying ‘time really is money’ is spot on.

Your choice.


Weekly, fortnightly or monthly, or whatever best matches the business income and cashflow.


If during the loan your circumstances change and you need to alter the frequency, just let us know.

Give us a call.


Just get in touch during normal business hours on 03 548 9932 and we can tell you instantly.

Protection for your business

In a non threatening way

Fico is a responsible lender so we need to be confident you can afford the loan repayments before we approve anything.


But we also know the only constant in business is change (and definitely taxes), so when things do change it’s best to know what options you have.

Loan Protection FAQ's (click on the questions for your answer)

Talk to us.


We know the only constant in business is ‘change’, and when your situation changes we want to do everything possible to help you find a suitable solution.

Talk to us. We will listen.


If you have any concerns or a complaint please make sure your first step is to let us know.


We understand things can go wrong from time to time, and when that happens we want to hear about it and then put it right. Call our Managing Director, Scott Dodd on 03 548 9932, he is empowered to sort out any and all problems.


We are always looking for ways to improve our service to you. If something has gone wrong, we want to know. Please send an email to and tell us what has happened and how we can resolve matters. If you have any documents or correspondence that will help us understand your complaint, please attach them to the email. When we receive your complaint, we will:
• acknowledge your complaint within 1-2 working days
• gather and evaluate information about your complaint
• respond to you within 20 working days. If we cannot agree on how to resolve the complaint, you can contact Financial Services Complaints Limited (FSCL). FSCL are an independent, not-for-profit, external dispute resolution scheme approved by the Minister of Consumer Affairs. FSCL’s service does not cost you anything and they will help resolve the complaint. You can contact FSCL:
• by calling 0800 347 257
• by emailing
• through FSCL’s website:
• writing to: FSCL PO Box 5967 WELLINGTON 6011