What people are saying about us
ThinCats is the engine that takes the banks out of banking and shares the spoils with lenders and borrowers alike. Small companies attract competitive financial support. Lenders share the risk of individual loans to build an attractively yielding fixed income portfolio. It’s win-win. It’s transparent. It’s simple. (Slater)
The platform is simple to use, loan information is well displayed and returns are excellent. I have recommended ThinCats to my friends as my particular endorsement of your product. (Michael)
View key statistics including details of our last 10 loans here
ThinCats Australia is regulated by the Australian Securities and Investments Commission (ASIC) and is the holder of an Australian financial services licence (No. 488196).
ThinCats Australia provides a means for wholesale investors (including qualifying sophisticated investors, professional investors, high-net-worth investors and trustees of self-managed superannuation funds) to earn attractive returns by lending fractional amounts on secured loans to growing Australian small and medium sized companies.
By operating as a peer-to-peer lending platform, we connect potential investors with companies that require funding. We work with borrowers either directly or through our network of Sponsors and Introducers, to prepare detailed credit submissions on behalf of the borrowers.
Each loan is listed on our platform with supporting documentation including an information memorandum. Lenders can choose the loans they are interested in and lend a portion of the total amount sought by each borrower (minimum $1,000) thereby making their own lending decisions and diversifying portfolio risk. Borrowers are able to fund their loan requirements through multiple lenders.
It is important that you are aware of the risks of peer-to-peer lending which are elaborated here.
Key benefits for Lenders
- Free membership and no loan management fees – you get the interest the borrower pays
- Ability to lend small amounts across a broad portfolio of loans and diversify risk
- Attractive interest rates on Principal and Interest (P&I) loans
- Loans secured by charge over business assets, personal guarantees of directors and second mortgages in some cases
- Detailed credit submissions prepared on behalf of borrowers by finance professionals
- Separate nominee company holds client monies in trust and executes loan documentation on behalf of lenders
- Real time reporting of all holdings and transactions available online
- Periodic monitoring of loans
- Potential in the future to access invested money early by selling on a secondary market
Who can be a Member?
Wholesale investors, including qualifying sophisticated investors, professional investors, high-net-worth investors and trustees of self-managed superannuation funds, can be members of the ThinCats Australia platform.
To be considered a ‘wholesale investor’ the Australian Corporations Act and Regulations requires an investor to have:
1) aggregate net assets of at least $2.5 million; OR 2) aggregate gross income for each of the last two financial years of at least $250,000 a year.
Overseas residents who meet the above criteria can also be members of the platform.
Register and review the current loans on our platform.
How does it work?
In order to be a Lender individuals and entities need to be registered and approved as members on the ThinCats Australia platform. Lenders need to transfer funds to the ThinCats Australia Client Monies account if they choose to bid on loans. The minimum bid is $1,000. The maximum bid is the total loan amount. For fixed rate loans, lenders bid fixed amounts on the loan. For variable rate loans (which has not yet been introduced), lenders choose the amount they wish to bid as well as the interest rate. They can make multiple bids at different rates of interest and for different amounts. If more than one bid is successful they will have multiple loans at different rates of interest.
More detailed information is available in the lending FAQs.
What is the Secondary Market?
We are building towards having a secondary market to allow lenders to buy and sell their loans to each other or to qualifying third parties. This means that if lenders wish, and the loan is deemed suitable for sale (in the reasonable opinion of ThinCats Australia), they can sell their loans to others. It allows new lenders to build a portfolio of loans much more quickly than they would if they were waiting for new auctions and loans to be drawn down. It also provides a means for members to access their invested money early by selling some or all of their loans. Details of fees regarding this secondary market will be provided on this website when this facility is introduced. Not all loans will be deemed suitable for sale on the secondary market for a range of reasons.
If you have any questions, please call 1300 325 342