Apply Now

What are the fees?

We believe in full transparency. Our only fee is a 2.5% establishment fee that is deducted at settlement. From here, your weekly repayments are calculated up front and we will direct debit the same amount each week. No other fees or charges for the length of your loan.

How is interest charged?

Given the short term nature of our loans, we don’t use an annualised interest to describe our loans. Our loans are designed to be predictable and transparent so the entire repayment amount is disclosed up front.

What’s my weekly repayment?

Your repayment schedule will be customised to your loan. All repayments will be set out in black and white from the beginning, before you sign off on the funds. No hidden charges and no additional fees.

When will I receive my first bill?

There are no ‘bills’ with Sail™. You will be direct debited the same amount each week from your nominated business transaction account. No surprises.

What is the duration of the loan?

From 3-12 months. The majority of our loans are over a 6-month period.

When is principle and interest due?

This is a fixed repayment loan. All the repayments are clearly set out before the loan is settled. You repay the same amount every week for the duration of your loan.

How do I pay the loan back?

Repayments will be direct debited from your nominated business transaction account.

Is there a penalty for repaying the loan early?

No there is not. We don’t operate like the big banks and you will not be penalised for repaying your loan early. On the contrary, should you want to repay early we will deduct the amount from the outstanding balance.

Can I pay some of my loan but not all of it?

If for some reason you cannot make any of the repayment, you should contact us immediately so we can discuss and tailor a solution for you.

What if I fall behind? What if I’m late?

If you can’t make your weekly repayment, you need to contact Sail™ on 1800 00 SAIL to discuss options.

Can I have more than one loan?

We prefer you finish paying off your first loan before applying for another. However, feel free to get in touch with your account manager if you feel your business requires a second loan.

Can I increase my loan?

Yes. If your loan is at least half way through and you feel you would like to increase the amount, contact us to discuss and we will arrange additional funds.

Is the loan unsecured?

A Sail™ loan is unsecured. However, we do ask for a personal guarantee from the main stakeholder in the business.

Join the Sail Community

Get the best business advice and tips.

Thanks for subscribing!