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Loan Eligibility Rules For EG Grow

 

RuleValueFootnote
Minimum Loan Term6 monthsMinimum Loan Term: The shortest loan term that qualifies for EG Grow investment is 6 months.
Minimum Loan Term18 monthsMaximum Loan Term: EG Grow investments are limited to loans with a term of 18 months or less.
Loan Schedule TypeAnnuity or
Bullet
Loan Schedule Type: Only Annuity and Bullet repayment structures are eligible for EG Grow.
Loan Minimum Interest
Rate (including Interest
Spread)
10%Minimum Interest Rate (including Interest Spread): Loans must have a combined base and spread interest rate of at least 10% per annum
Minimum Success Fee
Rate
1.5%Minimum Success Fee Rate: The loan must include a success fee rate of 1.5% or more
Repayment FrequencyMonthly,
Quarterly
Repayment Frequency: Acceptable repayment frequencies are Monthly or Quarterly. Loans with irregular or other repayment frequencies are not eligible.
Maximum Loan-To-
Value (LTV)
69%Maximum Loan-To-Value (LTV): The LTV ratio must not exceed 69% at the time of loan publication.
Mortgage RankOnly 1st
Rank
Mortgage
Mortgage Rank: Only loans secured by a 1st Rank Mortgage are eligible. Subordinated or lower-rank mortgages are excluded

 

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