When you log into your Managed App investor profile, click your property and then the new Loans tab. Click the Apply with Possibl button to get started.
Prepare your documents and checkboxes before you proceed. Your property manager should already have a PDF lease attached to your property profile (You can check on the Lease tab) - this will auto-populate during the application. If it is not already attached, you can upload it manually.
Remember: You cannot apply for a Possibl Loan if you split rental income between multiple owners. Ask your agency to update your settings to just one owner to proceed.
You will be redirected to the Possibl website to complete the application. Most of the information will be pre-filled for you, just double-check it all and add any missing information.
This is when you set your loan amount and repayment preferences. Once you enter the amount, the app will show you the total fee and the monthly repayments based on your chosen frequency.
The next step is to add your property manager's details. This will mostly pre-fill from Managed App so double-check the information and add anything that is missing.
The final step is your lease agreement and the T&C acknowledgement. Your property manager should already have a PDF lease attached to your property profile (You can check on the Lease tab) - this will auto-populate during the application. If it is not already attached, you can upload it manually.
Double-check the application and proceed.
Set up your bank account verification so the Possibl team can fast-track the settlement/
Your application is now complete! You will be able to track its progress on the Loans tab in your Managed App Investor Profile.
Once the application is approved, you will receive an alert when the funds are available in your loan wallet.
Approvals can be as fast as 15 minutes but can take up to 1 business day for some applications.