johnthebookie #6396

What is the significance for the lenders of the Credit Limit Endorsement issued by QBE INSURANCE (AUSTRALIA) LIMITED (ABN 78 003 191 035)?

Does this guarantee funds of up to $350,000 for the lenders in the event of default by the company in the repayment of the loans and interest payments on the loans?

What is the maximum amount of concurrent loans Marketlend will allow to this company?

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leotyndall #6397

John,

The endorsement means that the insurer will insure Marketlend against any loss up to 90% of the debt in the event of a default by the company, and also reasonable legal costs.

The maximum amount is $350,000 and Marketlend will only make available for listing A$350,000

Thanking You
Marketlend

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