Read through a list of frequently asked questions. If there is something specific you would like to ask, contact us.

I am in the process of applying for a BOS Note. How do I apply to P4 Finance for a loan to be able to purchase my BOS?

The BOS provider can provide the necessary application forms, along with a checklist of supporting documents which will be required to be submitted with your application.

Do I have to take out a loan with P4 Finance?

No. You can source your own funds elsewhere to purchase your BOS Note.

When do I need to have my application submitted by, to be able to receive funding within the month?

You will need to submit your fully completed Application Forms accompanied by all required supporting documentation by the within the first 2 weeks of the reporting stage/month if you want your loan funded within the same reporting stage/month.

Will a Credit Check be done on me as part of the application process?

Yes. Part of our credit assessment process is completing a credit check on all applicants, trustees and directors. This also means that other companies you apply for finance with will be able to see your application to P4 Finance.

What happens after my loan application is approved?

P4 Finance will prepare a Finance Offer which will be emailed to you which you will need to sign, have witnessed and dated and return by email to p4finance@flightcentre.com. You will also need to check if there are any Special Conditions you need to comply with.

How will I make my Loan Repayments?

Interest Repayments are required to be paid via Direct Debit from a nominated account.You will be sent a Direct Debit Form with your Finance Offer to complete and return.

When does my Finance Offer have to be returned to P4 Finance?

Your completed Finance Offer needs to be returned along with your Direct Debit form at least 4 working days before the final working day of the month (or reporting stage) if you want your loan funded within the same month/reporting stage.

What is the Interest Rate?

The Interest rate will be the Reserve Bank Cash Rate, plus a margin of 5.25%.

Is the Interest Rate Variable?

Yes. The Interest rate is linked to the Reserve Bank Cash Rate, and will increase or decrease in line with the Reserve Bank’s rate movements.

When are the loan repayments required to be paid?

Interest will be charged to your loan on the 22nd of each month. This will also be the day we Direct Debit the payment from your nominated account (or next business day).

Are there any early pay out fees if I want to pay off my loan early?

Currently there is no early pay out fee with this loan, however P4 Finance does have the option of charging a fee in certain circumstances.

Can I apply for finance for any other purpose than purchasing a BOS Note?

No. P4 Finance is only able to provide funding to purchase a BOS Note. The loan amount can not exceed the BOS Note face value.

What happens if I default on my loan?

If you are not making your loan repayments and a repayment arrangement has not been made with P4 Finance, your BOS Note will be redeemed, and the proceeds will be used towards paying off your loan. Any amount not covered by the redemption proceeds is still your responsibility to pay. For the time that you are in arrears, you will also be charged an extra margin of 0.3% on your interest rate. Default Fees will also be charged for each payment defaulted. If your repayment is overdue for more than 90 days, a default will be listed with Veda and noted on your credit report.

What is the term of the loan?

The initial term of the loan is 12 months from the date of funding your loan. Subject to a review by P4 Finance, your loan term will rollover for subsequent 12 month periods.

Am I able to apply for a loan under the name of a Family Trust?

Yes. As long as the BOS Note will be purchased in the name of the Trust, and the BOS Manager is the sole Trustee for that Trust. You will be required to provide a Certified copy of your Trust Deed for our approval.

Am I able to apply for a loan under the name of a Company?

Yes. As long as the BOS Note will be purchased in the name of the company, and the BOS Manager is the sole director of the company. A company search will be completed. If there are any ‘Charges’ registered over the company, we will require the Charge Holder to provide confirmation that the Charge will not have any holding over the BOS Note.

Can I fix the interest rate on my loan?

No. The loan is only offered as a variable rate loan.

Can I offset the interest cost of the loan against the interest earnings on my BOS Note?

No. The loan is a completely separate contract to the BOS Note contract.

When will I receive statements on my new loan?

Statements will be sent out via email once annually after the end of the financial year. Additional statements can be requested on payment of a statement fee.

Will the new loan have an impact on other financing decisions I want to make, for example purchasing an investment property?

Yes. The new loan will be registered with the national credit reporting agency. Other Lenders will therefore be aware of the existence of this loan, and you are required to disclose the debt. This will affect your applications for finance with any other lender.

What if I’m struggling to afford the P4 Finance loan or if my personal financial situation changes?

Please contact Moneywise or the BOS team to discuss your specific circumstances. You are able to redeem your BOS at any time, and use the proceeds to pay to your P4 Finance loan (you are still liable for any outstanding interest)

I don’t want my employer to be aware of my credit rating or credit history. How will P4 Finance protect my privacy?

P4 Finance has strict privacy controls in place limiting the individuals who have access to this information. Please click here to read our privacy policy.

Still have questions?

Need ask something specific?