That is the whole answer, and you get your own version of it in writing before you sign anything. This page shows the maths, the fees that don’t exist, and exactly what leaves the account each week.
Wayflyer prices with a factor rate of roughly 1.15 to 1.30 per year of term. The factor is applied once to the amount advanced, which gives one total repayable. You then pay that total back in equal weekly or fortnightly amounts across the term. Nothing compounds, nothing moves with the cash rate, and the total does not change.
| Advance | Term | Total repayable | Cost of the money | Weekly repayment |
|---|---|---|---|---|
| $50,000 | 12 months | $57,500 – $65,000 | $7,500 – $15,000 | $1,106 – $1,250 |
| $100,000 | 12 months | $115,000 – $130,000 | $15,000 – $30,000 | $2,212 – $2,500 |
| $100,000 | 24 months | $130,000 – $160,000 | $30,000 – $60,000 | $1,250 – $1,538 |
| $250,000 | 12 months | $287,500 – $325,000 | $37,500 – $75,000 | $5,529 – $6,250 |
| $250,000 | 24 months | $325,000 – $400,000 | $75,000 – $150,000 | $3,125 – $3,846 |
A longer term costs more in total and less each week. Weekly figures are the total repayable divided by the number of weeks, rounded. Fortnightly facilities work the same way with twice the amount, half as often.
If you convert the example above into an annual percentage rate, it lands well above a secured bank loan, and we would rather you heard that from us. A bank lends against your property over years, with an approval process to match. This is money with no property security, based on your revenue, decided on bank data, usually in writing within a day or two of your statements being linked, with your house left out of it. That is what the difference buys.
Two honest comparisons, then: compare the total repayable against another business lender's total repayable over the same term, and compare the cost against the cost of not having the money, such as the job you cannot staff or the stock discount you cannot take. Do not compare a factor against an advertised annual rate. They are not the same unit.
There is no early-repayment or break fee. The fee is fixed at the start, so clearing the facility early doesn’t reduce the agreed total either. Worth knowing before you choose a term.
No establishment, origination, drawdown, account-keeping or early-repayment fee on the current product. Late and default charges do exist and they are set out in the lender's contract.
If your facility funds, the lender pays Get Backed a referral fee. You pay us nothing, and it does not change your cost or your pricing.
This is what a typical facility looks like end to end. You see all four figures in your written offer, and none of them move after that. No rate reviews, no revaluations, no surprise line items, and no phone call to explain them.
The same amount leaves the account every week for the term, so it budgets like rent rather than like a loan. Want a smaller weekly figure? Take the 24-month term. Want to pay less in total? Take the shorter one. That is the whole trade-off, and you choose it upfront.
Indicative example on a 1.22 factor, not a quote. Your own figures are confirmed in the lender's written offer.
Eligibility takes about a minute. Linking twelve months of read-only statements is a separate two-minute step, and there is no phone call at any point.