Frequently asked questions

Your one stop shop to finding the answers to the most commonly asked questions about Kikka

General

Who is Kikka Capital

Kikka Capital is an online lending platform that provides an unsecured line of credit for small businesses, including Pty Ltd companies, Sole traders, Partnerships and Trusts. Our simple online application process prepares an assessment in under 10 minutes and you'll have access to your business line of credit 24/7. We use an algorithm that assesses the current health of your business rather than historical trading information and you aren't required to provide commercial or residential security.

How is Kikka different to a bank?

We do not require you to:

  • - have been in business for 3 years
  • - provide us with the last two years of audited financials
  • - provide us with the two most recent tax returns
  • - provide us with pages and pages and pages of paper bank statements
  • - provide your home (or any other collateral) as a guarantee

We don’t take weeks to make a decision.

Compare Kikka with other finance options

You can apply for a line of credit and have your application assess in less than 10 minutes 24/7.

Give us a call on 1300 41 41 95 to find out more or Get Started

What is a small business line of credit and how is it different from a small business loan?

The key difference between a small business line of credit and a small business loan is that, as you repay the line of credit, the funds you've repaid are available to redraw again up to the credit limit. Additionally, you only pay interest on the funds you draw down on the line of credit.

Eligibility

Who is eligible to use Kikka's services?

Any Australian business with a monthly turnover of at least $10,000 and an ABN or ACN which has been active for at least 12 months. Kikka provides lines of credit to small businesses including Pty Ltd companies, sole traders, partnerships and trusts.

What information do I need to provide when I apply for a business line of a credit online?

We need your ABN or ACN and personal and business credit information, all of which you can provide via a simple online process. We will assess your information and provide you with a decision in minutes.

Do I need an ABN or ACN to access a business line of credit?

Kikka can only lend to a business with an active ABN or ACN.

How long do I need to be in business to qualify for an unsecured line of credit?

Your business ABN/ACN needs to be active for 12 months.

Why do I need to provide my online bank account login details?

By providing your online login details, Kikka can assess your bank transactions in real time to determine a line of credit that is affordable for your business. This information is provided to us in a read-only format, so your information remains protected.

Can you assess my application with a paper bank statement only?

No - our lending platform is online. Without the ability to verify your bank transaction history electronically, we are unable to continue with your assessment and cannot offer you a line of credit.

Does Kikka check my credit file?

With your approval, we conduct a personal credit check as part of the application process to assess your application and determine the value of the business line of credit.

Why do I need a valid Driver's Licence?

By law we are required to verify your identity as a part of the business line of credit application process, which requires your consent.

Loans

How much can I borrow?

Kikka analyses the health of your business to offer a business line of credit line that is affordable and appropriate to help your business grow. We offer a line of credit between $1,000 and $100,000.

What is the duration of the business loan?

The loan term is 6 months.

Can I have more than one loan?

Yes, absolutely. The only restriction is a minimum of 7 days between your drawdowns.

What can I use the unsecured business line of credit for?

You can use the unsecured business line of credit for any business purpose including, but not limited to: purchasing inventory, investing in equipment, increasing staff numbers, funding a marketing campaign—the options are endless.

How much does it cost?

Kikka provides a flexible, no obligation business line of credit. There are no upfront, monthly account or early repayment fees.

How long will it take to assess my application?

It’s a simple 3-step application, which takes under 10 minutes to complete, and you'll get a decision instantly. Kikka provides a flexible, no obligation business line of credit. There are no upfront, monthly account or early repayment fees.

How long does it take to access funds?

You can draw down on your business line of credit to your nominated business bank account on the same day your application is approved. Transfer of funds to your account may take 1 - 3 days depending on your banking institution.

How do I make payments?

The payment of principle and interest will be automatically direct debited from your nominated bank account on the due date.

When is my first repayment due?

Your first payment is due one month from the date of your first drawdown. Any subsequent drawdowns will have the same payment date and will be payable over 6 months. A reminder email is sent 5 days prior. We suggest you login to your account to familiarise yourself with the loan schedule.

Can I make manual payments?

Yes, and we don’t charge a fee to make a manual payment. You can login into your account 24/7 to make a manual payment.

How does Kikka charge for an unsecured business loan

How does Kikka charge for business lines of credit?

The cost structure of our lending is straightforward. We don’t charge any interest. Instead, loan fees are assessed based on the information you provide and data sources you connect.

Fees are 2% – 9.75% of your selected small business loan amount the first 2 months and 1% for each of the remaining 4 months. Every month, for six months, you pay back 1/6th of the total amount plus the monthly fee. There are no early payment fees. In fact, early repayment will shorten the length of your small business loan and save you on future monthly fees.

Is there an establishment, monthly account or annual fee?

No, there are no establishment, monthly account, or early repayment fees. The only fees we charge are for late payments and a monthly loan fee on amounts, which are drawn down.

Is a personal guarantee required?

Yes, we require you to provide a personal guarantee that you will make your small business loan repayments.

Admin

How can I change my account contact details?

To make any changes to your account details, contact us at info@kikka.com.au or 1300 41 41 95 .

What should I do if I cannot make a payment?

If you know you can’t make a scheduled direct debit payment, please contact us on 1300 41 41 95 . We will work with you to determine the best possible solution to get you up-to-date.

How do I close my account?

We will be sad to see you leave. To close your account contact us on 1300 41 41 95 .

How do I reset my password?

Click on the login page, and select forgot password? An email will be sent to your email address. Follow the prompts to reset your password. If you experience difficulties, contact us at info@kikka.com.au or 1300 41 41 95 .

Is there a time limit to use my business line of credit?

There is no time limit to draw down funds. We do not charge a monthly account fees and there is no obligation to borrow once your application is approved.

Once I finalise my small business loan can I redraw?

Yes, you can. As you repay the loan, the funds become available to redraw, just like an overdraft facility.

Can I pay my loan out early?

You can pay out your loan early, and there are no early payment fees.

Privacy

How is my personal data kept private?

Our Privacy Policy has been developed to collect, use and store personal information in accordance with the Commonwealth Government's Privacy Act.

Why do I need to provide my online bank account login details?

By providing your online login details, Kikka can assess your bank transactions in real time to determine a line of credit that is affordable for your business. This information is provided to us in a read-only format, so your information remains protected.

When I login with my online banking details, what does Kikka see?

We don’t see your login details. We see your banking transactions in a read only format. We can't access or transact from your business bank account. For more information please call 1300 41 41 95 or email info@kikka.com.au.

Free to sign up. No obligation to borrow.

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