Business Loans That Move You Forward
Looking for business funding to help you grow, pay for overheads, or consolidate debt? We’ll help you find a loan that suits your situation by matching you with products from over 50+ lenders.
Looking for business funding to help you grow, pay for overheads, or consolidate debt? We’ll help you find a loan that suits your situation by matching you with products from over 50+ lenders.
Here's an overview of what a business loan typically offers:
- Loan amounts from $2,000 - $2,000,000
- Flexible loan terms: 3 months to 5 years
- repayment frequency: weekly, fortnightly, or monthly
- Fixed interest rates from 7.99%
- Interest rates customized to your financial profile
Want to skip ahead?
This guide is broken down into the following sections. Click a link if you want to skip ahead.
What can I use a business loan for?
Loans can serve a myriad of business purposes depending on your business needs. You can use the funds to purchase inventory, expand your existing business, acquire new equipment, hire more staff, or even pay for day-to-day operational expenses. Sometimes, businesses also take loans to refinance their existing debts or to fund research and development of new products or services. It's essential to carefully plan and allocate the borrowed funds to ensure they contribute to the growth and profitability of the business.
Start-Up Capital
Business funding can be used to provide the initial capital needed to start a new business.
Equipment Purchase
Whether it's machinery, IT equipment, or other tools, a loan can fund necessary equipment purchases.
Operational Costs
Cash flow funding can help cover day-to-day operational costs such as utilities, rent, or payroll during lean periods.
Debt Consolidation
Business debt consolidation loans can be used to consolidate multiple business debts into a single, more manageable payment.
Product Development
Business funding can fund the research, development, and launch of new products.
Inventory Purchase
Business funding can help cover the costs of inventory purchases, ensuring a business has products to sell.
Business Expansion
When a business is ready to expand, whether by opening a new location or increasing production, a loan can provide the necessary funds.
Marketing and Advertising
To reach new customers and increase sales, business funding can be used to fund marketing and advertising campaigns.
Hiring Staff
Business funding can fund the costs associated with hiring new staff, including recruitment and training.
Emergency Funds
Business funding can provide a safety net of funds for unforeseen business expenses.
How much can I borrow for a business loan?
Business loans in Australia typically range from $5,000 to $500,000 or more, depending on the lender and your business’s financial standing. Factors like your revenue, business credit score, and cash flow impact how much you can borrow.
Established businesses with strong financials may qualify for larger loan amounts at competitive interest rates. It’s important to assess how much funding your business truly needs and what you can afford to repay comfortably.
If your business is a startup or has limited credit history, you may need to start with a smaller loan. Over time, as you build a positive repayment track record, you may qualify for higher loan amounts.
Taking on more debt than necessary can impact your cash flow. Use our calculator below to estimate the ideal loan amount for your business’s needs.
Business Loan Repayment Calculator
To estimate your monthly repayments and the total cost of the loan, input the loan amount, loan term and interest rate into the calculator below. This helps you plan your budget and choose the most suitable loan terms.
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Am I eligible for a business loan?
Understanding your eligibility can help you make informed financial decisions.
Lenders consider several factors when assessing your eligibility, including your credit score, income, debt-to-income ratio, age, residency, and required documentation.
While meeting the eligibility criteria doesn't guarantee loan approval, having a good credit score, stable income, and a positive financial profile significantly improve your chances.
You are eligible to apply for a business loan if you:
- ✔Are over the age of 18
- ✔Are an Australian citizen or permanent resident
- ✔Have a regular source of income sufficient to meet the repayments
How to Apply for a business Loan
Applying for a business loan is straightforward and takes only a few minutes. Simply fill out our online form with some basic details, and you'll be on your way.
Once we receive your information, a representative will reach out to help you explore loan options from over 50 trusted Australian lenders.
If you're eligible for a business loan and are satisfied with the initial quote, here's what you’ll need to prepare:
- ✔ Passport or driver’s licence
- ✔ Proof of income and expenses (e.g., payslips, bank statements)
- ✔ Details of any current debts or loans
How to Find the Best business Loan for Your Needs
Choosing the right business loan involves understanding key factors like interest rates, fees, and repayment terms. Each aspect can impact the total amount you'll pay, so it's vital to make an informed decision.
Interest Rate
Lower interest rates reduce the total cost of the loan. Take time to compare rates from various lenders to secure the best deal.
Comparison Rate
Unlike the interest rate alone, this includes fees and charges to give you a clearer understanding of overall costs.
Early Payout
Find out if your loan allows early repayments without penalties, as this can save you significant interest costs.
Fees
Pay attention to application, ongoing, and early repayment fees. Opt for a loan with competitive and transparent fee structures.
Loan Term
Shorter terms mean higher monthly payments but less interest overall, while longer terms reduce payments but increase total costs.
Still have questions about business loan?
These helpful FAQs will help you find the answers you need. If you can’t find what you’re looking for, you can request a callback below.