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Borrowing Application Process and Steps
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The Borrowing Application on Lending Hub is safe, secure and simple to complete. The following indicates the steps of the process and the information you will need to supply to us so that we can process your details and create and online loan listing.

>> I''m Ready to Start a Borrowing Application to get my Loan Listed

Security of Information

When you interact with Lending Hub and provide us information about yourself and your personal situation we ensure that your data is kept secure and cannot be accessed by any other member. Where we do reveal some information (e.g. such as your credit grade, username or state you reside in) this will be displayed on your loan listing in anonymous form. For further details on how we treat your personal data please read through our privacy policies. Lending Hub's Privacy Policy ...

Consent to Doing Business Electronically

When you first access the application you will be required to consent to our "Disclaimer and Consent to Doing Business Electronically" which means that we will provide all forms, agreements, communication and notices to you either via the website or in an email. You also agree to sign agreements electronically (i.e. no physical signatures are required).

Who can Apply to Become a Borrower on Lending Hub

To be able to start and complete a Borrowing Application on Lending Hub you must confirm that you meet the following criteria:

  • That you at least 18 years of age
  • That you an Australian resident
  • You have an Australian bank account

Borrowing Application - Step 1

Step 1 of the application will allow you to start creating your loan listing and here you state how much you want to borrow, the purpose of your loan and your financial status. You should provide us with details on:

  • Your salary, wage and any other income
  • Your expenses and existing debt repayments
  • Any loans, debts, credit card limits you have
  • Any assets you own and your home ownership status

Borrowing Application - Steps 2 to 3

To complete Steps 2 to 3 of the application you will need to provide us with the following:

  • Personal details such as full name, date of birth and driver's licence
  • Residential details (previous and current)
  • Current employer details and address (previous and current)
  • Details for an Australian bank account

Your bank details are kept private and confidential and are neccessary so that we may arrange for autmated direct debits from you bank if a loan is successfully setup and established for you.

Borrowing Application - Step 4

At this step you will have the opportunity to review the information you provided in previous steps and modify or amend anything prior to submission.

Note: Please ensure that your details are entered correctly. If you enter the wrong details we may not be able to credit rate you. This may also affect the interest rate you could achieve on your loans.

Borrowing Application - Step 5

At this step you agree to us submitting your information to a credit checking agency so that we may identify you and generate a credit grade for you. You also have the opportunity to read the various agreements you must sign electronically prior to submitting your information. Lending Hub's Legal Agreements...

Note: You should read all the agreements carefully at this stage as these agreements are legally binding.

Borrowing Application - Final Steps

To process you application we require payment of a small fee (through PayPal at the moment) which allows us to identify and credit rate you.

After submission of your details to the credit checking agency we generate a credit grade for you and here you can select the maximum interest rate you want to apply to your loan listing (lenders are forced to bid lower than this maximum rate).

Borrowing Application - Loan Listing

If we successfully verfiy you will be able to view your loan listing online immediately otherwise we will direct you to a manual process so that we can confirm any information.

>> I''m Ready to Start a Borrowing Application to get my Loan Listed