Unsecured Business loans up to $500,000

Choose from 90+ Lenders

Competitive Interest rates

Choose from a range of business loan options

Approval possible in as low as 24 hrs

What is a Business Loan?

A loan is generally borrowed for two purposes, either for personal use or for business use. The loan borrowed for business use is known as a business loan.

Business use could be any business-related expenses like buying stock/inventory, paying wages, rent, marketing expense, renovations/fit outs, purchasing equipment, expansion or other day to day working capital needs. Unlike loans for personal use, you would mandatorily require an active ABN to apply for a business loan.

However, there are few secured business loan products where you don’t require to be trading for a minimum period or be generating any revenue.

In case you are a start-up business or planning to start/buy a business without any trading history or revenue stream, please contact us to discuss your scenario and best suited business loan product for you.

What you should know about business loans

Have questions? Speak to our experts!

What makes me eligible for a business loan?

As the name suggests, Secured Business Loans are loans backed by a security in any form. Secured Business Loans are mostly popular among new businesses which are yet to start operations or start-up businesses with minimal or no cash flows.

Business loans backed by security can help small businesses get their ideal loan amounts with favourable terms because they are seen as lower risk by lenders.

What makes me eligible for a Secured business loan?

Generally, to be eligible for a secured business loan, you need to

Have an active ABN

Must be trading for at least 6 months

Average monthly income to be >$5k

Have an asset to offer as security

However, there are few secured business loan products where you don’t require to be trading for a minimum period or generating any revenue. In case you are a start-up business or planning to start/buy a business without any trading history or revenue stream, please contact us to discuss your scenario and find the best suited business loan product for you.

How do I apply?

1.Check your eligibility

Check the basic loan eligibility of your business and complete the application form which takes 60 seconds.

2.Submit your application

Once you complete your application form. We get in touch to discuss your business requirement and advice the documents required.

3.Get you approved as quick as 24 hrs

Once we get all the documents required, we login your application with the most suited lender and get the loan approval in as low as 24 hours.

Get pre-approved without any credit checks!

Explore the top 10 business loans in Australia

Business loans are essential requirements for any business looking for a growth. Sooner or later all the businesses come across a phase where they need to borrow from external sources like lenders, venture capitalists etc to transition into next phase of the grow. Generally business loans are one of the easiest ways to secure timely funding. However, at times, it becomes a tedious and time-consuming task to compare and choose from the right business loan product for your business.

Most popular

Unsecured business loans

An unsecured business loan can be obtained without the need of pledging any asset as a security.

No security needed

Hassle free approval

Less required documentation

Loan term 3-36 months

Borrowing limits $5k – $500k

Interest rate from 7.99%

Term 3 – 36mths

Turnaround times 24 – 48hrs

Small business loans

Financing option that provides a lump sum of cash in exchange for future repayment of the principal and interest.

Quick approval

Funding possible within 24 hrs

Less required documentation

Loan term 3-60 months

Borrowing limits $5k – $1m

Interest rate from 7.99%

Term 3 – 60mths

Turnaround times 24 – 48hrs

Secured business loans

Secured business loans are backed by security in any form and get more ideal terms because they are considered less risky.

Security required

Start-up/New businesses accepted

Flexible repayments

Loan term 3-60 months

Borrowing limits >20k

Interest rate from 5.99%

Term 25 yrs+

Turnaround times 3 – 7 days

Business line of credit

Like a credit card, the lender sets up a certain fund limit for business use. Your business can draw and repay the loan when needed.

No security needed

Hassle free process

Less required documentation

Loan term 3-60 months

Borrowing limits $5k – $500k

Interest rate from 7.99%

Term upto 5 yrs

Turnaround times 24 – 48hrs

Invoice finance

This loan allows you to access funds in advance according to your invoices. Draw funds within a set limit and pay it off when the invoice is paid.

Similar to business line of credit

Up to 95% of invoice value

Either disclosed or undisclosed facility Up to $150m

Borrowing limits $10k – $150m

Interest rate from 9.99%

Term Ongoing

Turnaround times 24 – 72hrs

Debtors finance

Similar to invoice financing – the lender provides a limit against the accounts receivables ledger of the business to draw funds.

Similar to business line of credit

Up to 80-85% of receivables ledger Up to $150m

Borrowing limits $10k – $150m

Interest rate from 9.99%

Term Ongoing

Turnaround times 24 – 72hrs

Trade finance

Enables you to pay your supplier up to 100% upfront or in advance before receiving goods.

No security needed

Early payment discounts available

Flexible repayments

Reduced payment (FX risks)

Borrowing limits $10k – $150m

Interest rate from 9.99%

Term Ongoing

Turnaround times 24 – 72hrs

Vehicle & equipment finance

A business vehicle or equipment loan is backed by the underlying purchased asset so no additional real estate security is required.

100% funding possible

Approval possible in 24-48 hrs

No doc approvals upto $250k

Primary & secondary assets

Borrowing limits $10k – $1m

Interest rate from 5.99%

Term 2 – 7yrs

Turnaround times 24 – 48hrs

Start-up business loans

For businesses with no active trading or trading <12 months. The loan is generally secured and required to be backed by a real estate security.

Real estate security needed

Funded up to 80% LVR

1st/2nd Mortgage options

Obtain an existing business

Borrowing limits $20k – $30m

Interest rate from 1.5% p.m.

Term 3 – 24mths

Turnaround times 3 – 7 days

Bad credit business loans

A second chance for businesses to recover and potentially improve your credit history if you have a current and consistent cash flow.

Shorter term 3-12 mths

Unsecured facility possible

Daily/weekly repayments

Approval possible in 24-48 hrs

Borrowing limits $5k – $500k

Interest rate from 1.5% p.m.

Term 3 – 24mths

Turnaround times 3 – 7 days

*The information provided above is intended as a guide only. Please contact us for more information.

What’s the difference?

Discover the differences between our loans.

Business vs. Personal Loan

Business

No need for security, no risk of losing any asset.

Can borrow up to $500,000 depending on the strength of the business and borrower’s creditworthiness.

Place more risk on lenders, as borrowers have no risk of losing any asset owned.

Loan terms are generally shorter with higher interest rates.

Quick funding possible within 24 hours

Personal

An asset needs to be pledged as collateral.

No cap on borrowing, the loan amount depends on the value of the asset pledged.

Borrowers are at risk of losing the asset if unable to repay the loan.

Loan terms can be of longer tenor with competitive interest rates

Secured business loan may not be as quick as an unsecured business loan as the lender needs to lodge a caveat on your security before releasing the funds.

Unsecured vs. Secured Business Loan

Unsecured

No need for security, no risk of losing any asset.

Can borrow up to $500,000 depending on the strength of the business and borrower’s creditworthiness.

Place more risk on lenders, as borrowers have no risk of losing any asset owned.

Loan terms are generally shorter with higher interest rates.

Quick funding possible within 24 hours

Secured

An asset needs to be pledged as collateral.

No cap on borrowing, the loan amount depends on the value of the asset pledged.

Borrowers are at risk of losing the asset if unable to repay the loan.

Loan terms can be of longer tenor with competitive interest rates

Secured business loan may not be as quick as an unsecured business loan as the lender needs to lodge a caveat on your security before releasing the funds.