Code of Lending Practice

Introducing the Code

Zip Business Capital is a founding signatory to the Code of Lending Practice, a commitment which will increase transparency across the Australian online business loan sector. Transparency is at the core of what we do and the Code is the next step in ensuring our customers can clearly identify if a financial product is right for their needs, exactly how much it is going to cost, and if a product is the best solution available to them. Through the Code, we are affirming our commitment to meeting all legal and regulatory requirements as well as promoting an increased level of transparency and disclosure in the small business lending market.

Creation and Implementation

The Code was created through extensive collaboration between a leading group of online business lenders, the Australian Finance Industry Association (AFIA), the Australian Small Business and Family Enterprise Ombudsman (the Ombudsman), SME advocate, theBankDoctor.org and industry association FinTech Australia. Key elements agreed in the code include:

To ensure effective enforcement, the Code will be supported by a Charter focused on governance including its monitoring, review and enforcement processes.

AFIA will appoint a Code Compliance Committee (CCC) as an independent governing body to monitor and enforce the Code. The Code, Charter and the disclosure tool will be fully functional from 31 December 2018.

Lending Responsibly

Zip Business Capital are specialists in small business lending with an expert team with decades of experience at traditional financial institutions. We have been through credit cycles and are aware of systematic risks. Together, we have built Zip Business Capital to prosper and serve small business communities in ever-changing macroeconomic conditions.
We have a rigorous commitment to lending responsibly and refuse to over saddle a business with debt they cannot afford to repay. We champion businesses and do not want to put them into financial distress, which is why we have a robust assessment. We want businesses to use our loans to grow and thrive.