When you create a drawdown (withdrawal) from your Sivo Debt line, you enter into a loan with Sivo, the terms of which are presented to you for acceptance on the drawdown confirmation page.

The terms of your loan are as follows:

  • Term: 12 months

  • Interest rate: your interest rate is presented to you on the drawdown confirmation page - it is a variable rate based on the WSJ Prime rate.

  • Interest payments: interest accrues daily and is deducted from your Sivo Cash account on the first of each month during the term

  • Principal repayment: there are no required principal payments for the first 6 months (6 months of interest only). At the beginning of months 7-12 after your drawdown, 1/6 of your drawdown amount will be deducted from your Sivo Cash account to repay the principal amount borrowed.

  • Fees: None. That’s right, no prepayment fees, no unused facility fees, no origination fees, nada. You pay interest on the capital you have outstanding and nothing more.

Scheduled payments are automatically deducted from your Sivo Cash account. You can also make an unscheduled payment.

How to make an unscheduled payment to your Sivo Debt line

1. Login to Sivo

2. Head to Banking > Cash

3. Click the Transfer button

4. Click Transfer to Debt line button

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