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PET FUNDERS LOAN INFORMATION

Loan FAQ

Our fee’s are clear and transparent.
You simply pay an interest rate of 2.95% per month. (35.40% per annum).

Eg.

$1000 Loan over 6 months = $184.29 monthly payments (inc $105.75 Interest)

$2000 Loan over 6 months = $368.58 monthly payments (inc $211.50 Interest)

See our online calculator for more.

Yes, a one-off setup fee of $175 is added to the first payment.  (If your application is declined no application fee is charged). 

You can choose to spread payment over 3, 6, 9 or 12 months.

No.  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 you can expect to be credit checked.

Get an indicative loan pre-approval by clicking on the ‘Get Approved Now’ button on the front of our website. Fill in the details and we’ll respond with a pre- approval within 30 minutes (subject to responsible lending inquiries and checks) within business hours.

Once you have a pre-approval, the Vet will perform the work and generate an invoice and loan agreement application for you to complete online. Upon completion of our loan agreement we will verify some information with you and upon final approval, make payment to the vet.

Making Payments

All payments are made via monthly Direct Debit from your bank account.

The first payment starts within one week after the signup date and continue monthly after that. You can set this date, when you confirm the loan with us.

At Pet Funders we work on monthly payments and our loans are setup this way.

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 admin@petfunders.co.nz

We pay the money directly to your Vet within 48 hours after completion by you of the online loan agreement.

You only pay interest for the months you’ve used the loan.

There is a $175 Settlement Admin Fee payable to cover our processing costs.

General

We can only fund the invoices of Vets who have signed up with us.  If you’d like to fund an invoice from a vet that is not yet one of our clients please suggest they contact us on info@petfunders.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 your vet (who’s invoice you’re funding) is separate to your funding relationship with us.  If you are unhappy with your vet, 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.

For any personal loans requested of Pet Funders, Government legislation requires us to ensure the loan requested by the consumer is fit for purpose and that the person can afford the loan.

Many companies will require their customers to provide 3 months of bank statements.

Here at Pet Funders we use CreditSense to simply provide us with a report on your bank statements. It’s faster, easier and provides more accurate information while ensuring your privacy and security.

See here for more information.

Aurelium Capital Ltd t/a Pet Funders 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.

Registered Financial Service Provider – AURELIUM CAPITAL LIMITED (FSP1004789) and a Member of

Financial Services Complaints Limited

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

Financial Services Complaints Limited

Level 4, Sybase House, 101 Lambton Quay, Wellington 6011
https://www.fscl.org.nz

Schedule of Charges & Disclosures

Setup Fee $175.00
The loan setup/admin fee payable when you start the loan
Interest Rate – Standard 2.95% per month
The standard interest rate on the loan. We talk about 2.95% per month as most of our loans are for periods under 12 months, however the annualised interest rate is 35.40% p.a
Interest Rate – Default 3.99% per month
The interest you will pay if you default (do not pay on time). You may be charged this from the time of your first default until your loan is completely up to date.
Dishonoured Payment $19.50
This is the charge for having a payment reverse (i.e not enough money in your account)
Single Payment Variation Fee $16.50
Charge for us varying your single payment amount or date
Change Payment Schedule to a different term $85.00
When you get us to change all of your payments to a different term.
Loan Refinance $195.00
When you need to stop the current loan and setup a new one due to additional amount or longer term
Early Repayment Fee $175.00
When you wish to repay your loan to us early and we need to recalculate and produce a settlement statement for you.
Statement Fee $22.50
When you need us to generate a settlement statement for a certain date for you
Additional PPSR Registration Fee $30.00
If we need to secure our loan to you with a registration on the Personal Property Security Register

Debt Collection Lodgement Fee $225.00

If we need to place your debt will a debt collection company.

Caveat Lodgement and Removal $965.00

Should we require to lodge a caveat security against your assets (if your loan is a large amount – or if its a condition of loan approval) or repayment becomes doubtful or you are in formal default 

VETERINARIAN INFORMATION

Funded Amounts & Terms

Your customer can choose to spread payment over 3, 6, 9 or 12 months with us.

We fund fees from $750 – $10,000.

No – we specialise in short-term loans.

History and experience show that 6 or 9 months is the “sweet spot” for safe lending terms.

No.  There is ZERO cost to you, the business owner.  It is free to sign up with us, and free to use our services.

We make our money from the interest charged on the loan to your customer.  The person who’s spreading payment of your invoice pays the interest – not you.

Our fee’s are clear and transparent.
Borrowers simply pay an interest rate of 2.95% per month. (35.40% per annum).

Eg.

$1000 Loan over 6 months = $184.29 monthly payments (inc $105.75 Interest)

$2000 Loan over 6 months = $368.58 monthly payments (inc $211.50 Interest)

See our online calculator for more.

Yes, a one-off setup fee of $175.00 is added to the customers first payment.  (If an application is declined no application fee is charged). The setup fee is included in the customer application.

Yes.  The interest rate and the nominal setup fee are the same regardless of the amount being funded.

Your Customer can settle their loan in full at anytime by simply contacting us and arranging to do so.  Your customer only pays interest for the months they’ve used the loan. We do charge a $175 Settlement fee for early repayment.

The Process

Simply complete and return by email our Client Agreement Form.  Your application will be processed within one business day.

** CLICK HERE TO CONTACT US FOR THE APPLICATION FORM **

As much as you need!  Looking after our Clients is important to us and we go above and beyond to ensure that you have all the help and tools that you need.  We want you to use us….. and we know you’ll only use us if you if it’s really quick and easy for you to do so!

We provide tools and marketing materials to help you including:

  • Free Printed Flyers
  • PDF online versions of flyers
  • Pet Funders Logo to use as you wish
  • Quoting software
  • Wording for quotes/invoices/website

It’s EASY and takes your veterinary team less than 3 minutes online. 

Simply log into www.petfunders.co.nz with your user name and password and complete the quick and easy online form to generate the lending documents.

With the push of a button the simple and clear paperwork is generated and emailed to your customer for online completion. 

Upon receipt of their loan Application we will verify aspects of the loan with the customer and then move to making payment to you.

At all stages you are kept fully informed

Making Payments

We pay you 100% in full within 48 hours after your customer completes our online loan agreement.

Payments are made by monthly Direct Debit.  The first payment is automatically set to start within 3 working days after the date of application.

Our software works it out on monthly payments and the first payment needs to be the monthly amount.  

If a scheduled payment misses your customer gets a friendly email message to inform them and give them options for ways to make payment.

If they don’t proactively make payment within two days a friendly staff member will phone them and work with them to reschedule the payment.

It is in everyone’s best interests that the lending agreement is honoured so we work with the customer to achieve the win/win in every situation.

We respect the customer during all facets of the process and work closely with them to ensure successful outcomes.

If your customer defaults on payment we do everything in our power to contact and work with your customer to resolve the situation and reschedule the payments. Unsuccessful direct debits accrue a $19.50 fee to the customer.

Like a Credit Card?

No, we are not a credit card.  We are structured differently.  Credit card companies aim for people 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 our Customers to pay their loans off.  It is a specific loan for a specific reason – unlike the open-ended nature of credit cards.

The short answer is “no” and here’s why…

We assume you want full payment of your invoice.  Somebody has to pay the interest – and our business model is set up so that your customer, not you, pays for the convenience of using our money to spread payment of your invoice.

If you wish to use “interest free terms” as a sales tool in your business that is something between you and your customer and we don’t get involved.

It gives your customer choices.  Many people may not wish to, or be able to pay your invoice on credit card and having a cost effective, easy spread payment alternative makes good financial sense for the cash flow of both you and them.

Pet Funders is strictly a short term loan facility to cover a specific invoice.

A Specific Loan for a Specific purpose.

Unlike a credit card, which tends to ‘never end’, this is a specific loan for a specific thing, that finishes and is all paid off…which feels much nicer (and is more financially clever)

Security / Mitigating Risk

Yes.  We credit check customers before agreeing to fund them.  It’s in everyone’s best interest that payments can be made and that our loans is fit for the customers purpose alongside their ability to pay etc.

On occasion that we refuse an application you will be informed of the refusal and then you can make your decision regarding the work you do for your customer and the payment terms you agree upon.

We encourage all customers to request a pre-approval from our website. We will email your staff the resulting approval limit. We also send a text to your Customer to advise the pre-approval.

Please note: This is not a confirmation of the loan, but merely a limit up with which we are happy to accept the loan. Once you have generated a final invoice for the customer, enter our loan application portal and complete the details for the loan. Once the Customer has confirmed the loan online, we will move to verify the customer information and process the funding.

General

Yes, subject to approval.  If you have more than one invoice owing for the same customer you can fund them together in one lump sum. If the Customer is wishing to fund other invoices at a later date, we enter into a new loan agreement for this new invoice.

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.

Rest assured that we treat your customer with the utmost professionalism and respect at all times.  We stake our reputation on it.