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Website Terms & Conditions.

Please read these terms and conditions carefully. By accessing this website you agree to be bound by the terms and conditions below.

The use of Us, Our or We throughout these terms and conditions refer to:

Purple Circle Pty Ltd ABN 21 611 305 170 / Australian Credit License 486112
Head Office 14A Porter Street, Beaconsfield, WA 6162

Copyright

Copyright in the information contained in this site subsists under the Copyright Act 1968 (Cth) and, through international treaties, the laws of many other countries. It is owned by us unless otherwise stated. All rights reserved. You may download a single copy of this document and, where necessary for its use as a reference, make a single hard copy. Except as permitted under the Copyright Act 1968 (Cth) or other applicable laws, no part of this publication may be otherwise reproduced, adapted, performed in public or transmitted in any form by any process (graphic, electronic or mechanical, including photocopying, recording, taping or by storage in an information retrieval system) without our specific written consent.

General Advice Warning

The advice contained on this site does not take into account any persons particular objectives, needs or financial situation. Before making a decision regarding the acquisition a Credit Product, persons should assess whether the advice is appropriate to their objectives, needs or financial situation. We recommend you obtain advice before acting upon any of the information on this site. No responsibility is taken for persons acting on the information on this site. Persons doing so, do so at their own risk.

Calculators and Assumptions

Any calculators availabe on the site are designed to give you some examples of different financial scenarios, based on stated assumptions and the figures you input. The calculations are intended as estimates only; and they are not meant to be kept or used for any practical purpose, or as a substitute for professional financial advice. Any calculators or information provided on our websites are provided for your convenience only and do not constitute either credit or financial advice. Information on our websites has been prepared without consideration of your particular circumstances and should be viewed as generic information only and not as indicating that you should follow a particular course of action.

While we have based the information on sources that we believe are reliable and accurate, your actual outcomes will depend on a range of factors outside of our control. So you shouldn’t rely on these calculators when you’re making decisions about lending and/or financing. Instead, you should consider getting credit advice from a Credit Representative.

Links to Third Party Sites

Our web site may contain links to external web sites. Whilst such links are provided for your convenience, you should be aware that the information handling practices of the linked web sites might not be the same as ours and do not constitute endorsement of material at those sites or any associated organisation product or service. These external information sources are outside our control. It is the responsibility of users to make their own decisions about the accuracy, currency, reliability and correctness of the information at those sites. By accessing information at or through this site each user waives and releases us to the full extent permitted by law from any and all claims relating to the usage of the material made available through the website. In no event shall we be liable for any incident or consequential damages resulting from use of the material. Each website will have its own privacy policy and security standards and you should check these as we cannot confirm what standards these third party websites may adopt.

Terms of Use/Governing Law

The information in this site has been prepared in accordance with Australian law for the supply of goods and services. This notice and the information in this site and all matters relating to either are governed by and are to be construed according to the laws applicable in the State of Western Australia and the Commonwealth of Australia (“Australian law”). The information may not satisfy the laws of any other country. It is not directed at people in any other country and should not be relied on by people in any country other than Australia. The information in this site is current at the date of publication but may be subject to change.

Limitation of liability

We do not warrant or represent that the information in this site is free from errors or omissions or is suitable for your intended use. We recommend that you seek independent advice before acting on any information in this site. Subject to any terms implied by law and which cannot be excluded, We accept no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in any information in this site.

Small and Medium Enterprises (SME) Guarantee Scheme

The Scheme will enhance lenders’ willingness and ability to provide credit and will be available for new loans made by participating lenders until 30 September 2020.

The Government will provide eligible lenders with a guarantee of 50% per cent of new loans. Some generic terms are:

  • Businesses with a turnover of up to $50 million.

  • Maximum total size of loans of $250,000 per borrower.

  • Loans will be up to three years, with an initial six month repayment holiday.

  • Unsecured finance, meaning that borrowers will not have to provide an asset as security for the loan.

Reduced Interest Rates

Consider your current banking arrangements. The Reserve Bank has recently reduce the cash rate and lenders have passed this on to various loans they have.

Instant Asset Write Off

An increase in the instant asset write-off threshold from $30,000 to $150,000 30 June 2020.

Deferment of Loan Repayments for up to 6 Months

The banks are developing their own approach as to how to deal with requests from their clients for repayment holidays. Some are automatically granting the request, others are assessing the requests individually.