Question 1

Who can enquire about a MoneyX loan?

Accepted Answer

Any individual or business with an eligible asset can enquire. The asset can be in the business name or yours personally.

Question 2

How much can I borrow?

Accepted Answer

Between $20,000 and $1,000,000, up to 70% of the asset's value.

Question 3

How long does it take?

Accepted Answer

We aim to provide an indicative offer within 24 hours of enquiry. Funds are typically released the same day on acceptance.

Question 4

What happens if I can't repay within 6 months?

Accepted Answer

The asset is sold at auction by Lloyds. The outstanding loan balance and costs are recovered from the proceeds, and any surplus is returned to you.

Question 5

Do you check my credit?

Accepted Answer

No. MoneyX lends against the asset's value, not your credit file.

Question 6

Do I have to hand the asset over?

Accepted Answer

It depends on the asset. Some are stored securely with us; others can stay in use with tracking. We'll confirm what's possible in your offer.

Question 7

What kinds of assets are accepted?

Accepted Answer

Vehicles, boats, equipment, machinery, jewellery, watches, art, collectibles, caravans, aircraft and more. If you're unsure, ask.

Question 8

Are there early-repayment penalties?

Accepted Answer

No. You can repay any time within the 6-month term.

Frequently asked questions