If you've been looking for loan or consumer lease management software, one of the things you really do need to know is that your system is compliant with Australia's National Credit Code so that you can meet your obligations and responsibilities under the National Consumer Credit Protection Act 2009.

Whilst the majority of the Code relates to your obligations to undertake responsible lending and disclose various matters to your borrowers, it also requires you calculate and disclose the total repayable for the various contract types.


Whether it’s the permitted establishment and monthly fees for Small Amount Credit Contracts (“SACC’s”) or the fees and charges together with interest calculated on the outstanding daily balance for all other types of loans, such as Medium Amount Credit Contracts (“MACC’s”), Other Credit Contracts or Continuing Credit Contracts, these calculators are simply not available off-the-shelf.

If you’re serious about providing any credit, you need to be absolutely certain thatĀ yourĀ system isĀ totally compliant.

We recognise the complexities of all this are beyond many lenders which is why by using the Min-it Lending System, not only do you getĀ a compliant calculator thatĀ calculates the Annual Cost Rate on the flyĀ for all relevant loan types, including Interest Free fee-based loans, but alsoĀ populates a full set of loan documents, letters and notices for consumer loansĀ that meet the Code’s legal requirements. Note, however, that whilst there are a number of different business loan types, we only supply a contract for the Principal and Interest business loans. None of the other business loan types come with loan contracts, enabling you to continue to use your own or those that your solicitors compiled.


For consumer leases, with its in-built inventory system, you’re able to issueĀ fully populated consumer lease documents, letters and notices, including the End of Lease statementĀ that meet the Code’s legal requirements. Please note that you need to supply us with your own rental agreement or one that your solicitor compiled.

Whether you provide loans or consumer leases, the Min-IT Lending System has in-built compliance safeguards that will keep you and your staff compliant. Any changes to the National Consumer Credit Protection Act 2009 (Cth) and Associated Regulations affecting documents or system processes are updated as soon as practicable at absolutelyĀ no additional cost to you.