What’s the Difference Between a Loan Company and a Broker?

A loan company (lender) provides you with the money directly after conducting a successful credit and affordability assessment. A broker, on the other hand, does not lend money. Instead, they act as a middleman, helping you find a lender that matches your financial needs and credit profile.

Borrowing Money Using a Broker

Using a broker like SummitStone Capital Group can benefit individuals who want to explore multiple lending options without the hassle of contacting lenders individually.

We collect your information, assess your requirements, and match you with a lender from our network that best suits your profile. Some brokers charge a fee for this service, while others are compensated through commissions from the lenders.

Should I Use a Broker or a Lender?

The choice depends on your time, confidence, and comfort level:

• Use a broker like SummitStone if you:

  • Want help finding the best deal

  • Don’t have time to compare multiple lenders

  • Need help navigating the loan market

• Apply directly to a lender if you:

  • Prefer to manage the process yourself

  • Want direct communication

  • Want to avoid additional broker-related service fees

In either case, always ensure:

• The loan is affordable across the full repayment term

• You understand all associated fees

• You read the terms and conditions carefully

SummitStone Capital Group – Terms of Service

We are not a direct lender and do not offer finance ourselves.
SummitStone Capital Group is a loan directory and referral service. When you submit your application, we share it with one or more of our registered and vetted lending partners based on your profile and their lending criteria.

You are under no obligation to accept any offer made to you.

Lenders will conduct their own credit and affordability assessments, which may include reviewing your credit history, income, and current financial obligations.

Definitions

• “Terms”: These terms and conditions

• “Users”: Individuals using this website

• “User Information”: Data provided by you during your application

• “Website”: Our official website

• “You/Your/Customer”: Refers to the applicant

• “Service”: The process by which SummitStone Capital Group matches your application to suitable lenders

• “Lender/Provider”: The financial institution that may offer you a loan

Authorization

By applying for a personal loan through SummitStone Capital Group and submitting your application form, you authorize us to debit a once-off non-refundable service fee of $250 from your account.

This fee covers the cost of using our platform and sourcing a loan on your behalf.
Note: This fee is applicable whether the loan is approved, declined, or declined by you.

Disclaimer

This content is provided for general information purposes only. SummitStone Capital Group is not offering financial advice. While we strive to maintain accurate and up-to-date information, we recommend seeking professional financial advice for your personal circumstances.

We cannot guarantee the accuracy or completeness of this information and are not liable for any decisions you make based on it.

Minimum Loan Requirements

To apply for a personal loan through SummitStone Capital Group, you must meet the following criteria:

• Be under 63 years of age

• Earn a minimum of $300 per month

• Be employed at your current job for at least 6 months

• Have your salary deposited into your own account, or a joint account in your name

You are NOT eligible to apply if:

• You are a temporary worker, domestic worker, or self-employed

• You only earn commission-based income

• You are currently under or have applied for:

  • Debt Review

  • Administration

  • Sequestration

  • Liquidation