Portal - Browse Applications

As an investor, you probably want the opportunity to view all of the loan applications that you could potentially bid on.

1. To do this, on the portal menu select the Browse Applications option under the Marketplace menu:

2. It will then list all of the applications that are currently available for bidding (and is broken down further below):

A. The Asset Class icons in the top left, simply identify which asset class the applications are associated with:

The padlock icon is for the Unsecured Loan asset class while the leaf icon is for the Leasing asset class.

B. Just above the details of the application, there is a Show per page drop down list on the top right hand corner which has a selection that ranges between 10 - 100 and will display the number of pages based on applications that are available to bid on:

C. When the Less Details hyperlink is selected (also located in the top right hand corner), it will remove the details from the rate and term namely the From , To and For information and the closing date for funding:

D. The name of that link would have changed to More Details , and once selected, it will return those missing details:

E. When the Filter link is selected (on the top right hand corner next to Less/More Details, it will provide a screen with filter options that can be used:

You have the choice to filter using the following options:

Closing in

This has all of the time frames for the closing date (which ranges from 12 hours to 21 days) Have insurance This drop down list has three available options to choose from (All, Yes or No) and used to identify if the applicant has insurance.

Application Number

If the application number for a loan application is known, then it can be added to the filter and searched for.

Customer Number

If the customer number for an application is known, this can also be added to the filter.

Amount from - to

You can enter the minimum and maximum amount (in $) that was requested for in the loan application amount.

Interest rate from -  to

You can enter the minimum and maximum (in %) that was selected for the repayment interest rate.

Term from - to

You can enter the minimum and maximum (in months) that was selected for the loan application repayment term.

To clear what is in the filter or if you have filled in all filters and want to remove them, press the button located on the bottom right.

If you want to search through all applications with the filter options you have provided, press the button located on the far end of the bottom right.

F. For the list of applications, you can view details of the application which include:

- the reason why the borrower applied for a loan (under the Purpose of Finance heading)

- the amount the borrower is asking for, the rate for repayment they have selected and how long the loan will take to pay back (under the Amount, Rate & Term heading)

- the Credit Score icon as confirmation that the borrower has had a credit check and the application is currently listed (also under the Amount, Rate & Term heading)

- the progress of the money received from investors (under the Funding Progress heading)

- the option to place a bid on the application (the gavel icon located on the bottom left hand corner )

- the view application link which will open the details of the application in the auction as well as the application number ( located on the bottom left hand corner )

G. When the link next to Listed By (under Purpose of Finance ) is selected, it will open the Borrower’s Profile in a separate window.  This provides an overview of the personal and financial details of the borrower and is considered useful from an investor’s perspective to see if the borrower would be an ideal recipient for a loan (namely to gauge the reliability of the borrower in regards to repayment). This will be described in more detail below:

The Personal Information section begins with a map on the left hand side outlining where the borrower currently resides and the accompanying information on the right hand side includes their Member ID in Clearmatch, their Gender (only if specified), the Age group they best associate with, their Occupation, their Property status and the City or Town they are located in. Directly underneath it will also show any previous finance agreements that the borrower has:

The Financial Information section has all of the relevant details taken directly from the application which includes the Monthly Expenses (how much is allocated for rent or mortgage and for any bills or recurring expenses), Employment Details (the occupation which should match what is showing above in the personal information section, employment status and how long the borrower has been with their current employer, any Existing Credit Facilities (any combined overdraft and/or credit card limits), Income (the range that the borrower falls under for their earnings, the DTI ratio, the surplus as an individual and the surplus when their partner is included) and Employment Income (the total amount per annum before tax and how often the borrower is paid):

If the button in the top left hand corner is selected, this will redirect you to the auction page.

H. The Auction page is considered a summary of all relevant information associated with the auction itself (including making and editing bids) and will be described in more detail below:

The first section shows what the loan is going to be used for (via Loan Type) and the padlock icon is confirmation that it is an unsecured loan.  It will show the details of who the borrower is (when the link is selected, it will open the Borrower page outlined in section G above), the application number, the closing date of the loan (which includes the date, month, year and time) and the button has the same effect as selecting the link to the borrower.

It will also show the Reason why the loan is required, the total amount of the loan (which includes the setup fee taken by the finance company), the duration of time when the loan will be paid back (in months), the first payment date (the date, month and year), the frequency of the repayment method (fortnightly or monthly), the instalment amounts based on the preferred rate, the range of the interest rate (if it has increased), the credit score and any late payments if/when applicable:

I. The icon will also open the auction screen, but the focus is on the right hand side which has the bidding function. It will display details such as:

- the amount that you (as the investor) has to bid on applications specifically displaying the available amount

- the interest rate range for the loan - the amount you want to bid

- the interest rate (in %) associated with the bid - the actual button that will allow you to place the bid

- the option to create a quick quote based on the loan amount, interest rate and repayment frequency

- the amount that has been funded (with the amount in $ and the overall amount in % that has been funded):

The Place a bid $ field will by default have the amount of $100 entered automatically (as it is the current minimum amount) but can be changed to a higher amount if/when required. The % field is the interest rate and will automatically default to the last rate that was used, but the details supplied in the bid interest rate range will show what the current rate is and that field can be changed accordingly. When the button is selected, this will provide a confirmation prompt to ask if you want to proceed further and make a bid of the entered amount against the entered interest rate:

Selecting No will take you back to the auction page, while selecting Yes will open a success confirmation prompt stating that you have made the bid with the option to close the prompt by simply selecting the button or clicking the on the top right hand corner:

This will then update the dollar and percentage amount in the Current bid amount progress bar:

The Bidding History table located at the bottom, will also be updated to include the bid that was made. It will display specific details such as the Investor number, the Amount that was bid, the interest Rate p/a, the Status of the bid and the Date (with day, abbreviated month, year and the time in a 24 hour clock format):

The link will open a screen that will allow you to type in a Loan Amount (in $), the Interest Rate (in %) and the Payment Frequency (either weekly or fortnightly):

When the button is selected, it will display the payment period and payment amount based on the details provided (while the button will return to the auction page):

Once a bid has been placed, the Place bid button will be replaced with the button (as a bid has already been made, selecting the button will allow you to add more money to your current bid).

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