Target Market Determination

Design and Distribution Obligations (DDO)

Design and Distribution Obligations (DDO) are new obligations that requires issuers and distributors of financial products to take reasonable steps that make it likely that customers are offered products for which they are in the target market. DDO will come into effect from Tuesday 5 October 2021.

About the TMD

This Target Market Determination (TMD) document is not intended to provide financial advice. Please refer to our Terms and Conditions and Credit Guide before deciding product suitability. Our product terms and conditions will be provided to you upon request. This TMD aims to provide an understanding of the class of customers we have designed this product for, being the target market. When considering the target market, we focused on our customers' objectives, financial situation, and needs within this class of people we believe this product to be suitable.

Target Market Determination
Effective Date 05/10/2021

This TMD is for the Loans Products regulated by National Credit Code, funded by us (Breezy Loans ABN 29 627 702 943 as a Credit Representative Number 514197 under Installment Loans ABN 13 690 290 821 (Australian Credit Licence 389610). And where we work as an affiliate and and loans are funded by one of themultiple licenced lenders who we work with,,as we believe the chances for approval are much higher because of the different risk appetite of individual lenders. The marketplace platforms are used by both Lenders and Affiliates to increase the approval rate for borrowers who are looking for the same products or alternative to these products. The third party lenders’ target market determinations would be available on their respective websites orother resources. We may receive commission from the prospective lenders (amount unascertainable).Breezy Loans Pty ltd place provide extreme importance on protecting your personal information. Our strict standards have been put in place to keep your information secure. Our policies and procedures comply with Australia’s privacy principles governing the protection of personal information, set out under the in the Privacy Act 1998 (Cth) (as amended) (Privacy Act) and any other relevant law. Personal information collected by us will only be used for the purpose in which it was collected, or as allowed under law. We want you to feel confident in our ability to protect your personal information.

1. Product Name: Small Personal Loan

• Product Type: Small Amount Credit Contract
• Issuer: Installment Loans
• Manager: Breezy Loans Pty Ltd
• Distributor: Breezy Loans Pty Ltd
• Reference Documents: Terms and Conditions, Key Fact Sheet & Credit Guide. (Minimum Loan Term, Establishment Fee, Dishonor Fee, Interest Charges, Arrear Notice Fee, direct debit fee, Post Fee, Referral Fee).

Inside the Target Market

The features of this product have been assessed as meeting the likely objectives, the financial situation and needs of consumers who require an unsecure personal loan between $300 to $2000, repayable over the term of 91 days to 1 year, to cover up the unexpected small expenses like - car repair, dental expenses, overdue bill, travel, to change small home appliance, rental bonds etc. Frequent users of these products are theconsumers who need the funds within 24hrs, and their needs cannot be fulfilled by traditional lenders. These loans are designed for people who are earning regular income and does not have a savings to meet some unexpected expenses. These loans come with an option to repay early without any early termination fee so that the customer can get back on track. The loans are designed to assess & fund same day so that the customers don’t wait for too long to fulfill their needs. Most of the customers applications are assessed and funded within 2-3 hours. Although the rates are high but, the value and availability of these products attract consumers to fulfill their quick needs without going into a long contract.

Outside the Target Market

Consumers outside the target markets are consumers that require loans for business purpose, for buying a car, unemployed people& who do not meet with the eligibility requirements.

2. Product Name: Medium Personal Loan (Secured/Unsecured)

• Product Type: Medium Amount Credit Contract
• Issuer: Installment Loans
• Manager: Breezy Loans Pty Ltd
• Distributor: Breezy Loans Pty Ltd.
• Reference Documents: Terms and Conditions, Key Fact Sheet & Credit Guide. (Minimum Loan Term, Establishment Fee, Dishonour Fee, Interest Charges, Arrear Notice Fee, direct debit fee, Post Fee, Referral Fee).

Inside the Target Market

The features of this product have been assessed as meeting the likely objectives, the financial situation and needs of consumers who require an unsecure/secure personal loans between $2100 to $5000, repayable over the term of 91 days to 2 year, to cover up the unexpected big expenses like, car repair, dental/medical expenses, overdue bill, travel, renovation, International Students who are waiting for money to arrive from their parentsetc. Frequent users of these products are the consumers who need the funds within 24hrs and their needs cannot be fulfilled by traditional lenders. These loans can be secured or unsecured, based on customer’s risk profile. These loans are designed for people who are earning regular income and does not have a savings to meet some unexpected slightly bigger expenses. These loans come with an option to repay early without any early termination fee so that the customer can get back on track. The loans are designed to assess & fund same day so that the customers don’t wait for too long to fulfill their needs. Most of the customers applications are assessed and funded within 6-8 hours. Although the rates are high but, the value and availability of these products attract consumers to fulfill their quick needs without going into a long contract.

Outside the Target Market

Consumers outside the target markets are consumers that require loans for business purpose, unemployed people& who do not meet with the eligibility requirements.
The distribution channels:

• The Product has a wide target market; our products will be distributed by a qualified credit rep, Breezy Loans Pty Ltd. It has also a referral partners who only pass on the clients without giving any advice on assessment or approval.
• Our application and approval process has controls in place to flag consumers who may be outside the target market. Our best interest duty is to ensure that the Product is in the best interests of the consumer.

REVIEW TRIGGERS

The following review triggers would reasonably suggest that the target market determination may no longer be appropriate:

1. A significant dealing of the Product to consumers outside the target market occurs.
2. Material changes are made to the Product terms and conditions, other than changes to interest rates and consequential changes to repayments.
3. Frequent bad reviews for the products offered by us.

REVIEW PERIOD & REPORT PROCESS

Initial review of this target market determination will occur within 12 months of the date of this TMD. The customer will be able to report reviews on our products by the social media review channels and by sending us an email to:- hello@breezyloans.net.au, loansinstallment@gmail.com, info@installmentloans.com