Loan process

Find out what you need to know before applying, learn about the stages of the application process, and learn what happens during the RIC loan term.

Before you apply

Take the time to learn about RIC loans and eligibility requirements before applying.

There are a few steps we recommend you take before applying for a RIC loan.

Check your eligibility with our quick quiz

Answer a few simple questions and in less than a minute find out if a RIC loan is right for you.

Eligibility quick quiz
Learn more about RIC loan eligibility

View our education toolkit to learn more about loan eligibility requirements.

Understand eligibility
Seek independent financial advice

Talk to your financial counsellor, accountant or other trusted advisor to check if a RIC loan will suit your business needs.
Notify your lender

Let your commercial bank or lender know you’re interested in a RIC loan.

Read the loan guidelines to understand the full details and requirements of the loan for which you are applying.

You complete a loan application

Start the online form, download resources to complete a detailed application, and submit the initial required documents.

Start an application
We assess your application

We will contact you, your financial counsellor and commercial lender to understand your business and confirm details.
We make a decision on your loan application

If your application is approved, we prepare documents for signing including a letter of offer and deed of priority.

If your application is declined, you can request a decision review.
We settle the loan

We arrange settlement in line with the approved loan agreement and disperse funds.

Interest payments will begin according to the payment schedule detailed in your loan agreement.

You can update your payment details and access other loan information through manage your loan.

We perform loan reviews

We periodically check to see how you’re progressing with your loan.
Your interest-only period ends

Before the end of your interest-only period, we’ll inform you how much your principal and interest payments will be.

You can also make additional principal repayments.
You can request to update your loan agreement

If you need to update your loan agreement you can submit a variation request.

Learn about the events that may trigger the need for a loan variation.
Your loan reaches maturity

At the end of your loan term you can either repay the outstanding loan balance or refinance with your commercial lender.

Get in touch if you have any questions about eligibility, your application, or managing your loan.