What is BOLT?
BOLT is a multi-lender quoting and application portal for asset finance and personal loan transactions that is available to all accredited Connective brokers.
BOLT provides access to an extensive panel of asset finance and personal loan lenders without brokers needing to obtain direct accreditations themselves.
The BOLT platform is operated by Nodifi, an accredited Connective broking group based in Adelaide who specialise in asset finance and personal loans.
Do I need a special accreditation to use BOLT?
No. All accredited Connective brokers or loan writers can use BOLT.
Please speak to your Broker Support Manager or the Connective Asset Finance (CAF) team to obtain access to BOLT.
The CAF team can be contacted on 1300 248 878 (Option 1) or via firstname.lastname@example.org
What types of deals can I write via BOLT?
You can use BOLT to transact both commercial and consumer asset finance loans for your clients as well as unsecured personal loans.
CONSUMER loans (for personal or non-business use) includes financing for motor cars, motorcycles, caravans and campervans, boats and various watercraft such as jet skis.
COMMERCIAL loans (for business or work use) can be used to finance motor cars, commercial vehicles, trucks and trailers and all types of business equipment, plant and machinery.
Examples include earthmoving equipment, farm machinery, medical and dental equipment, computer hardware and office equipment, industrial plant and machinery, aircraft, solar PV systems and other energy efficient equipment.
Essentially any “income producing” equipment or machinery can be financed via BOLT for your business or self-employed clients.
Please contact your Connective Asset Finance BDM if you are unsure if a particular asset or equipment type can be financed.
UNSECURED PERSONAL LOANS for clients can also be transacted via BOLT for any worthwhile purpose such as holidays, home renovations and improvements, debt consolidation, weddings, medical expenses and so on.
How do I access the BOLT system?
Option 1 (Recommended)
- Open Mercury 5 (Note: BOLT will not work on previous versions of Mercury)
- Once you have logged in, click “Add an Opportunity”
- Complete Opportunity and ensure you select “Plant & Equipment” as the Opportunity Type.
- Assign or create a Contact to your Opportunity (make sure you select “Primary Applicant” as the Relationship Type to ensure all client data will be imported into BOLT).
- Select the “Open Bolt” link in the top banner. A new window will open to the BOLT quote page (note: you may need to also login with your Mercury account details initially)
- Calculate the quote.
- Select “Proceed to App” to input and submit your application.
- Important: Your client contact details will be imported from Mercury at this stage.
- Open Mercury 5 (Note: BOLT will not work on previous versions of Mercury)
- Click on your Dashboard page
- Click on the Asset Finance tile on left-hand menu.
- This will open the BOLT login page and you may need to also login with your Mercury account details initially.
- Proceed with “Tick n Flick” referral or quote & application
- Important: If you access BOLT using this option no client data will be imported from Mercury and no status updates will be sent from BOLT back to Mercury.
- Simply log in to BOLT using the following URL: https://bolt.connective.com.au/auth/login
Important: If you access BOLT using this option no client data will be imported from Mercury and no status updates will be sent from BOLT back to Mercury.
Remember the BOLT system can be accessed on any internet enabled device – your computer, tablet or mobile phone.
Can my support staff have access to BOLT?
Yes. Support or administration staff can also have access to BOLT if required.
However, please note that admin/support staff are not able to view or access any BOLT applications or quotes that have been loaded by the accredited broker/s they work with.
Can I simply refer my client to BOLT and what happens next?
Simply login to BOLT and click on the “Tick ‘n’ Flick” link under Referrals & Scenarios in the left-hand menu.
Answer the qualifying statements, complete the referral page and upload any supporting documents such as client ID (Drivers Licence or Medicare card), recent payslips, and a copy of rates notice (if available) and submit.
Please provide as much information as possible to ensure we understand what your client is looking to purchase and finance.
Important: The Nodifi team is responsible for providing quotes your client. Please do NOT discuss any rates or quotes when submitting a “Tick n Flick” referral.
Further, if your referral is for a consumer loan the Nodifi team will undertake all NCCP related obligations on your behalf.
Important: You must not provide any credit assistance to your client for consumer “Tick n Flick” referrals.
Your client will be sent an SMS text containing a link to the Privacy Consent form when you submit your referral. Please make sure your client is aware of this and that they must action before the Nodifi team can assist your client.
You will be kept up to date with the progress of your client referral via email communication.
Are there any training materials for BOLT?
We have produced a series of introductory videos on how to use BOLT.
These can be viewed using the following link on Connective Wiki:
If you have any additional questions about how to use BOLT please contact:
- Your Broker Support Manager in the first instance or
- Your Connective Asset Finance BDM.
Can I save, print or send a client quote from BOLT?
- Calculate your quote as required.
- Click on the “Save” button (to save the quote for future reference).
- Add your client details (Name, Business Name, and Reference).
- Click on the “Download PDF” button.
- Select the applicable lender quotes you are happy to provide to your client.
- Include commissions – Yes or NO (Recommended)
- Click on “Download PDF” button.
BOLT will download a PDF file based on the above options you have selected.
You can then save this PDF file on your computer and/or email to your client.
Important: We strongly recommend you refrain from providing written quotes to clients as this often gives them a “shopping tool” to negotiate a better deal with another provider such as a bank, broker or car dealer.
This often leads to brokers losing the finance opportunity and possibly the entire client relationship to a competitor!
Why are some lender quotes displaying a lower Customer Rate than I have nominated?
This is because most lenders have tiered rate and/or commission plans.
BOLT will always quote the closest lender rate to your nominated Customer Rate (but not higher) depending on your individual quote scenario.
For example, if you have calculated a quote using a Customer Rate of 6.00% and a lender quote of 5.79% is displayed then the repayments have been calculated 5.79%.
How do I work out my commission in BOLT?
When you calculate a quote in BOLT, the results displayed show the maximum total commission amounts you can earn (by lender) for your transaction.
Important: The “Broker Split” amount is what you will earn AFTER the BOLT processing fee or commission split has been deducted.
You can then customise the Origination Fee and/or the Customer Rate down to a level that is satisfactory to both yourself and your client.
Each time you change the Origination Fee or the Customer Rate you will need to re-calculate the quote.
Important: BOLT will only produce quote results from lenders whose credit policies and guidelines match your client/quote scenario.
Lender quote results can also be sorted into ascending or descending order by clicking on the following text:
- Monthly Repayment
- Customer Rate
- Broker Split
By clicking on the “Info” button for each lender quote the following information is displayed:
- Amount Financed
- Monthly Account Fees
- Brokerage Amount
- Origination Fee
- Bank Set Up Fees
- Lender Base Rate
- Total Commission
Important: Please note the “Broker Split” quoted may NOT be the final commission you receive. Refer to “What is the Commission Model for BOLT” section below.
Do I need to provide a tax invoice for my commission?
No. The Nodifi team will invoice the lender directly for your commission at settlement of the transaction.
You don’t have to do anything from an invoicing perspective.
What is the commission model for BOLT?
For standard applications, the Nodifi team will deduct a processing fee or commission split from the Total Commission included for your transaction. The following processing fee OR 30% of the total commission will be deducted - whichever is the greater amount.
From 15th April 2019 the minimum BOLT processing fees are:
- $360.00 + GST for CONSUMER LOAN transactions.
- $495.00 + GST for COMMERCIAL Loan transactions
Example 1 (Consumer Loan)*
Origination Fee: $500.00
Total Commission: $1100.00
Broker Split: $704.00 (ie/ $1100.00 - $396.00)
Example 2 (Commercial Loan)*
Add Origination Fee: $550.00
Total Commission: $3050.00
Broker Split: $2135.00 (ie/ $3050.00 - $915.00)
For “Tick n Flick” referrals you will be paid 50% of the upfront brokerage or commission included in the transaction (this is determined by Nodifi).
Note: The 50/50 commission split is calculated AFTER the BOLT processing fee of $360.00 + GST (Consumer Loans) or $495.00 + GST (Commercial Loans) has been deducted.
Example (Consumer Loan)*
Less Processing Fee: $396.00
Total Commission: $854.00
Broker Split: $427.00
*GST Inclusive commission amounts.
How and when do I get paid for BOLT deals?
Commission payments are paid directly to Connective by the lender and once processed by our Commissions Team, they will be sent to you on either a Tuesday or Thursday after settlement date.
Our Commissions Team will also email an RCTI for your commission and accounting records.
Important: Some lenders do not pay commissions at settlement.
For example, Macquarie Leasing does not pay commissions for consumer loans until the end of the month.
Therefore commissions cannot be paid by Connective until they has been received from the lender, irrespective of the settlement date of your deal.
Which lenders do we have access to via BOLT?
BOLT has an extensive lender panel that covers virtually every asset finance and personal loan requirement for your clients.
Current lenders include:
- ANZ Bank
- Australian Motorcycle & Marine Finance
- Automotive Financial Services (AFS)
- Axsess Today
- Capital Finance
- Classic Funding Group
- Commonwealth Bank
- Finance One
- Flexi Commercial
- Get Capital
- Latitude Financial Services
- Macquarie Leasing
- Metro Finance
- Ondeck Australia
- Pepper Asset Finance
- RateSetter Australia
- Selfco Leasing
- Westpac Equipment Finance
- Wisr Personal Loans
What information do I need to provide with my BOLT application?
Generally, the following information is required to process your application:
- Profit & Loss & Balance Sheets for last 2 years*
- Asset & Liability information on Directors/Shareholders
- 2 - 3 Business References (must not live with applicant)
- Details of vehicle/equipment to be financed
- ID documents – Copy/s of Driver Licence, Medicare card and/or passport
- Copy of current rates notice if home owner/buyer
Note: Hard copy Financials may not be required if your client qualifies for a “Self Dec” or “Low Doc” commercial product.
Consumer Deals & Personal Loans
- Payslips for last 2 consecutive months
- Asset & Liability information on applicant/s
- Details of vehicle/goods to be financed
- Loan purpose (Personal Loans)
- 2 Personal References (must not live with applicant)
- ID documents – Copy/s of Driver Licence, Medicare card and/or passport
- Copy of current rates notice if homeowner/buyer
What happens when I submit my application?
- The Nodifi team will review your application to ensure all relevant information and documentation has been supplied.
- Once the completed Electronic Privacy Consent Form has been received from your client (see below) your application will be submitted to a lender for assessment by the Nodifi team.
- Once approved the Nodifi team will obtain a tax invoice from the supplier or dealer and prepare all relevant loan documents and contracts.
- Loan documents will then be sent to you for signing with your client (or the Nodifi team can send the document pack directly to your client if preferred).
- Once executed loan contracts have been returned and all approval conditions have been met, the Nodifi team will then coordinate settlement with the lender.
- After settlement confirmation has been received from the lender, the Nodifi team will advise you of this outcome (via email communication).
How does the Electronic Privacy Consent Form work?
When you submit either an application or a Tick n Flick referral this will generate and send an automated SMS message to your client’s mobile phone.
Your client must then open a link in the message which will contain the Nodifi Privacy Consent Form and Credit Guide & Quote document.
Your client must then sign the form via DocuSign and then press the “Submit” button.
This form will then be electronically returned to the Nodifi team who will add it to your client’s loan file.
Please note that the SMS link is unique for your client’s transaction and cannot be used for different client or applications.
Important: Please ensure your client is aware that they will receive this SMS message and how to complete. Until the Privacy Consent Form has been returned to the Nodifi team your application cannot be actioned.
How do I know how my application is progressing?
There are several ways to keep up to date:
Can I use a previous BOLT application for a client for a new transaction?
You can easily copy or “clone” a previous BOLT application to create a new application for your client.
- Log into BOLT.
- Locate your previous client application in the My Apps section (under either the “Submitted” or “Settled” tabs.
- Click on the “...” button and select Copy.
- Click Continue in the next dialogue box.
- Complete your new application as required. You should only need to add the new quote and asset (goods) details for your new application. All client information will be copied from your old application
Who do I call if I need assistance?
For loan scenarios:
For prompt service please submit your scenario to the Nodifi team as follows:
- Log into BOLT
- Click on the “Referrals & Scenarios” link in the left-hand menu
- Click on the “Scenarios” link and complete.
- Click Submit.
Note: Your scenario enquiry will be actioned within 2 business hours of submission
To speak to the Nodifi team regarding submitted applications:
- Send a message directly to the Nodifi loan processor by following the instructions under “How do I know how my application is progressing?” (see above).
- Call 1300 248 878 (Option 2).
For all accreditation or other Connective Asset Finance enquiries:
- Call 1300 248 878 (Option 1) or
- email email@example.com