Our details
Australian Garment Company Pty Ltd
Trading as Discover Capital Group
ABN 50 661 330 981 · ACN 661 330 981
206 / 98 Riley Street, Darlinghurst NSW 2010, Australia
Phone: 0438 358 226 · Email: deals@discovercapital.com.au
We are authorised to engage in credit activities as a Credit Representative (No. 554486) of Connective Credit Services Pty Ltd, Australian Credit Licence No. 389328 ("Licensee"). We are a member of the Mortgage & Finance Association of Australia (MFAA No. 700271) and the Australian Financial Complaints Authority (AFCA No. 121182), and are registered with AUSTRAC (Account No. 260365003).
Purpose of this Credit Guide
This Credit Guide contains information about us, the credit assistance we can provide, the fees and commissions that may apply, and how you can access our internal and external dispute resolution arrangements. Please read it carefully.
The services we provide
We arrange short-term and specialist property-backed credit for business, investment and commercial purposes across Australia, including:
- Residential first mortgages (business purpose)
- Commercial first mortgages
- Second mortgages and caveat loans
- Bridging finance
- Development exit and residual stock finance
- Business-purpose facilities secured by property
Most of the credit we arrange is not regulated by the National Consumer Credit Protection Act 2009 (Cth) because it is provided wholly or predominantly for business or investment purposes (other than investment in residential property). Where a proposed loan is regulated by the National Credit Code, we will comply with the responsible lending obligations under Chapter 3 of the NCCP Act, including making reasonable inquiries into your requirements, objectives and financial situation, verifying that information and assessing the credit as not unsuitable before providing credit assistance.
Lenders we work with
We arrange finance with a panel of private credit funders, non-bank lenders, mortgage managers and warehouse funders. A list of the lenders we most frequently deal with is available on request. We are not owned by, and are not the agent of, any lender.
Fees you may pay
Fees payable in connection with a facility we arrange are set out in the indicative term sheet, letter of offer, loan agreement and settlement statement provided to you. These may include establishment fees, lender legal fees, valuation fees, application fees, discharge fees and default interest. We will disclose all fees payable to us in writing before you accept a credit contract.
Commissions we may receive
We may receive commissions from lenders and funders for arranging credit. These commissions may include upfront commissions (typically 0.10% – 2.00% of the loan amount) and, in some cases, trail commissions. The amount varies by lender, product and loan size, and is paid by the lender out of its own funds. We will disclose the actual commission we expect to receive before you enter into a credit contract, where required by law.
From time to time we may receive non-monetary benefits from lenders such as training, marketing support or hospitality. We maintain records of any material benefits in accordance with the Licensee's conflicted remuneration policy.
Commissions we may pay
We may pay referral fees or commissions to introducers, brokers or aggregators who refer business to us. Any such payment will be disclosed to you before you enter into a credit contract, where required.
Anti-money laundering
We are registered with AUSTRAC and are required to identify and verify our customers, monitor transactions and report suspicious matters. We may request identification, source-of-funds and source-of-wealth information at any stage of a transaction.
Dispute resolution
If you are unhappy with any aspect of our services please contact us first — full details of our internal process and how to escalate to AFCA are on the Complaints & Dispute Resolution page.
Professional indemnity insurance
We hold professional indemnity insurance that satisfies the requirements of section 48 of the NCCP Act and covers the credit activities we conduct as a Credit Representative of the Licensee.