Referrals
How do referral commissions work?
You’ll receive a referral commission each time you introduce a client who proceeds to settlement.
If you refer the same client again for a future loan, you’ll receive another referral commission.
If the client returns to us independently without being referred by you again, a further referral commission won’t apply.
What if my client doesn't settle for another two years?
No problem. Every referral is recorded in our CRM and remains linked to your profile. Regardless of when the loan settles, your referral commission will still be processed.
If you think something has been missed, get in touch and we’ll investigate it.
Payments
How long will it take before I receive my referral payment?
The timeframe depends on the type of loan and how long it takes to reach settlement.
Refinances generally settle within 3–4 weeks.
Purchases typically settle within 6–8 weeks, however this can vary depending on how long it takes the client to find a property. In some cases, settlement may not occur for 12–24 months.
Once the loan settles, we receive our commission from the lender at the end of the following month.
For example:
- Loan settles on 20 November → commission is generally received end of December.
- Loan settles during the last five business days of the month → commission may not be received until the end of the second following month.
Your referral payment is processed once we’ve received our commission.
How are referral payments made?
Referral payments are made via EFT through our aggregator.
As long as your referral is correctly linked within our CRM, the commission is automatically split between you and Loan Lounge.
A Recipient Created Tax Invoice (RCTI) is also issued for your records.
What happens if a referral payment is missed?
While it’s uncommon, errors can happen. If you believe a payment has been missed, simply let us know. We’ll investigate it promptly and arrange payment if required.
Working Together
Who owns the client relationship?
Our approach is simple, the client chooses who they want to work with.
Our role is to deliver an outstanding experience so clients choose to continue working with us.
We also respect the relationships you’ve built. If you’re an accountant, financial planner or another referral partner, we won’t refer your client to another business offering the same service.
What types of finance can you help with?
Yes, we offer unsecured business loans, cash flow lending, asset/equipment financing and SMSF lending. Think of us as your outsourced finance professionals.
Still have a question?
If there’s something we haven’t covered, we’re only a phone call or email away. We’re always happy to help.