Who is Brighte?
Brighte is an Australian-owned, innovative and customer focused Fintech established by Katherine McConnell in 2015. In just four years, they have approved over $500 million in finance and enabled over 1800 solar and home improvement businesses to offer finance to over 50,000 aussie households.
Brighte is a responsible lender committed to good practice, the protection of consumer interests and enabling equitable access to renewable energy solutions and home improvements for all Australians.
How Brighte works
What is the difference between a green loan and personal loan?
What is a green loan?
A green loan is structured the same way as a personal loan, however a green loan is used to finance energy efficient products.
“The aim of a green personal loan is not only to make funding sustainable projects easier, but also to reward Aussies with a lower interest rate for taking the initiative and going green.” – Peter Marshall, Mozo Banking Expert.
Brighte offers the Brighte Green Loan and Personal Loan to help give customers the best rate for their home energy improvements
Based on Mozo database, the current average interest rate for an unsecured personal loan is 10.84% p.a., while the average rate for a green/eco loan is notably lower at 7.27% p.a.
At Brighte we offer the Green Loan at 5.89% p.a. (Comparison rate of 7.03% p.a^) and repayment terms of 2 – 7 years.
The Brighte Green Loan vs Personal Loan
How long does approval take?
Approval for Green Loans can vary between providers, at Brighte we take 1-3 business days to review the application and provide an answer on the application.