At Defacto, eligible borrowers have access to a loan facility—a flexible arrangement that allows you to borrow money up to a predetermined limit whenever you need it, by applying for loans.
This loan facility evolves as you use Defacto. The current amount available for borrowing is shown in the "Available balance" box. But what exactly does this figure represent?
What is the "available balance"?
The "Available balance" is the maximum amount you can still request through Defacto.
💡 Please note: Each loan request is evaluated by our algorithm—and by our team if necessary. The available balance is indicative and does not guarantee approval; requests may be declined for compliance or creditworthiness reasons.
How is the "available balance" calculated?
The available balance equals your total loan facility minus the total amount currently outstanding and minus any loan amounts pending approval.
For example, in the following situation:
Loan facility: €100,000
Total outstanding: €26,250
1 loan request pending validation: €5,000
1 loan request pending validation: €750
Your available balance would be:
€100,000 - €26,250 - €5,000 - €750 = €67,750
If your loan requests change:
The €5,000 request is refused
The €750 request is accepted
Then your updated situation would be:
Loan facility: €100,000
Total outstanding loans: €27,000
Available balance: €73,000
💡 The available balance reflects all your Defacto loans, including those requested through our partners.
If your calculations don’t match the available balance shown, it may be because you have an active Defacto loan through one of our partners.