We can often provide a response in one hour – as long as you apply during standard business hours and allow lenders to use the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements lenders can normally provide a decision in as little as one business day.

The total amount of your loan will depend on the specific circumstances of your business. The lenders consider a variety of factors to determine the health of your business and based on this information, they may be able to provide you a loan amount up to $300,000.

When you apply for our business loan, the lender will assess the risk profile of your business and provide you with a customised offer including loan amount, term and interest rate. Interest rates range from 9.9% to 26.5% per annum simple interest rate and offers vary based on things like your industry, how long you’ve been in business, and the health of your cash flow.

When you take out a business loan with most lenders, the only fee you will incur is normally an origination fee. There are normally no hidden fees for  business loans, and you’ll know exactly how much you need to pay and when from day one. 

To help you avoid missing repayments most lenders offer repayments that fit in with your cash flow cycle – either daily or weekly. These are automatically deducted from your nominated business account.

Lenders do conduct credit checks to look at your personal credit score in conjunction with your business health. Credit reporting bodies will compile a report on your credit worthiness based on a range of factors which include how many loan applications you have already made, your current credit if you have any, any overdue bills, past bankruptcy if applicable and any pending writs or court judgments.

Most lenders don’t rely solely on your personal credit score, they focus on evaluating the health of your business. As an example lenders will take the time to really understand how your business operates and what loan amount will be the most applicable to your business’s long-term stability.

If you apply for a loan of $5,000 to $100,000, you need to demonstrate 6 months of trading history through bank statements. If you need $150,000 to $300,000 we’ll require additional financials like a P&L statement. 

Lenders considers the health of a business to determine creditworthiness. For small business loans or lines of credit up to $100,000 no security is required to access the funds. If you continue to meet your obligations under the facility, such as payment obligations (as detailed in your contract), security will never be required. For facilities over $100,000 lenders will often take security in the form of a charge over your assets.

Some commercial loans require a deposit. And while you don’t need a deposit to apply for a business loan with our lenders, it is a good idea to have a clear understanding of all of your finances before you apply. It’s OK if you don’t have pages and pages of financial analysis to reference. We understand that small business operators are up against it and often struggle to keep up with the paperwork. To apply for up to $150,000, we generally only need 6 months of bank statements, an ABN and your drivers licence

To help you avoid missing repayments the lenders offer repayments that fit in with your cash flow cycle – either daily or weekly. These are automatically deducted from your nominated business account.