Who qualifies for a Banjo loan?
Banjo approves borrowers and allocates them to investors on the platform for funding based on our strict credit criteria. Borrowers must generally meet the following criteria:
- Registered Australian business or Australian citizen or permanent resident
- The business must be at least 2 years old and have minimum annual turnover of $500,000
- Directors must have a credit record with a Veda Score greater than 550
- 3 months of bank statements.