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Do you qualify for a Juel Loan?

Following are the acceptable parameters by which Juel assesses an application to provide funding to people and businesses involved in litigation.



Do you qualify for a Juel Loan?

Following are the acceptable parameters by which Juel assesses an application to provide funding to people and businesses involved in litigation.

1. Borrowers

Individuals

  • Australian citizen or permanent resident
  • New Zealand citizens or permanent resident
  • Minimum age of borrower is 18

Business

  • The business must have a valid ABN
  • All directors of a company must be guarantors of the borrowing entity
  • Guarantors will be required to obtain
    Independent Legal Advice prior to settlement

2. Loan Purpose

To provide funds to people or businesses involved in litigation during the litigation. “Involved” includes threatened or proposed litigation that a person or business can take and does not necessarily require proceedings to have been commenced in a court or tribunal.
The funds can be either for one or both or the following purposes:
  1. To pay for lawyers to represent an individual or business involved in litigation; and/or
  2. To pay for living and household expenses for individuals involved in litigation.

3. Loan term

Loans are available for the expected term of the legal action and repayable at completion.

4. Identifying Borrower

Juel has an obligation to take reasonable steps to verify the identity of each borrower or guarantor before the signing of the funding agreement. The Verification of Identity (VOI) is the verification of a Borrowers identity to be completed by Juel. To verify the Borrower, Juel will generally require a minimum of 1 photo identification as well as 2 other forms of ID as per our guidelines.

5. Fees and Charges*

Loan establishment and documentation fee

$1,500 +GST for loans under $100,000

2% +GST for loans $100,000 and above

  • Loan application and assessment
  • Loan documentation
  • Security registration costs ($400 +GST for caveat or mortgage registration, $100 +GST for PPSR registration, $50 +GST for title search)***

Loan administration fee

$250 +GST monthly

  • Review of litigation progress and prospects.

Interest rate

18%** p.a. for conforming loans (capitalising or interest only)

  • Actual rate dependent on risk profile of the litigation. For non- conforming loans the interest rate may be higher.

Other fees

  • In the event of a requirement to increase the loan a Further Advance assessment fee of $700 +GST is payable (and subject to loan increase approval).
  • In the event of a requirement to extend the loan term date a Loan term increase fee of $500 +GST is payable (and subject to loan term extension approval).
  • Stamp duty and other regulatory charges may be payable which are to be reimbursed by the lender at cost.
  • Repayment fee of $300 +GST and Discharge costs of $100 +GST (for PPSR) and $400 +GST (for mortgage or caveat) apply.
  • In the event of arrears or default, collection and other costs will apply. See Terms and Conditions for details.

*Fees and charges payable only for approved loans and are able to be funded from the loan proceeds.  

**Actual rate subject to individual loan assessment.

*** Fees and charges for security registration may vary, extra charges associated with security registrations will be payable by the borrower.

6. Funding Cases

Funding available for Individuals

Juel will provide funding to individuals and involved in following types of litigation:

  • Personal Injury
  • Family Law
  • Estate Disputes

Personal
Injury

Personal
Injury

PERSONAL INJURY
LOAN AMOUNT
Motor Vehicle Accident
Minimum $10,000
Maximum $150,000 or 20% of value of claim as determined by Credit Panel
Worker’s Compensation
Minimum $10,000
Maximum $150,000 or 20% of value of claim as determined by Credit Panel
Medical Negligence
Minimum $10,000
Maximum $150,000 or 20% of value of claim as determined by Credit Panel
Public Liability
Minimum $10,000
Maximum $150,000 or 20% of value of claim as determined by Credit Panel

*Maximum loan can be higher at Juel’s discretion depending on our assessment of individual loan circumstances.

Family
Law
Family
Law
FAMILY LAW
LOAN AMOUNT
Property Dispute
Minimum $10,000
Maximum $1,000,000 or 50% of the borrower’s share of the Matrimonial Net Cash and Property pool (MNCP) whichever is the lesser
Property and Parenting Dispute
Minimum $10,000
Maximum $1,000,000 or 50% of the borrower’s share of the Matrimonial Net Cash and Property pool (MNCP) whichever is the lesser

*Maximum loan can be higher at Juel’s discretion depending on our assessment of individual loan circumstances.

Estate
Disputes
Estate
Disputes
ESTATE DISPUTE
LOAN AMOUNT
Loans to Executors
Minimum $10,000
Maximum $250,000 or 50% of the borrower’s share of the Net Estate Value (NEV)
Loans to eligible claimants on the Estate
Minimum $10,000
Maximum $750,000 or 50% of the borrower’s share of the Net Estate Value (NEV)
Funding
available for
businesses
Funding
available for
businesses
Juel will provide funding to business involved in commercial disputes whether the business is seeking to recover moneys, prevent damage to the business or defend proceedings brought against the business. Funding is provided to pay lawyers acting for the businesses to protect the businesses’ cashflow during litigation.
The type of claims include:
  • Employment disputes
  • Defamation
  • Debt recovery
  • ACCC proceedings
  • Breach of contract
  • Negligence claims
  • Negligent misstatement
  • Misleading and Deceptive
  • Insolvency – preferential
    payments
COMMERCIAL DISPUTES
LOAN AMOUNT
Loans to Business Owners/Operators
Minimum $50,000
Maximum $1,000,000 subject to assessment of business loan requirements and appropriate security LVR.
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* = individual cases may receive special consideration for additional funds.