Our loans

If your funding is urgent and you have all of the required information, we can give you a decision within 24 hours (working days). A loan application submitted on a Friday might roll into the following Monday.

Loan terms can be three to 24 months. Generally the smaller the loan, the shorter the term. But that depends on the nature of your business and the size of your loan in relation to your sales.

Some lenders will only lend up to a multiple of your monthly revenue. We don’t have a set formula and will look at your overall situation and ability to meet repayment commitments. The reason for your loan will also play a part in this decision.

We lend from $20,000 to $500,000.

Interest rates can vary, depending on your risk profile. Finance companies tend to cost more than a bank, but that’s because we are willing to take on a bit more risk than the banks. Banks say no because they are extremely risk averse, whereas we are willing to be more flexible and overlook some past transgressions. Remember the saying: high risk, high return.

The smaller the loan, the less time in business; but six months is the minimum. For loans over $200,000 you need to have been in business for over a year. For loans over $300,000 you need to have been in business for at least two years. To get the maximum loan of $500,000 you need to have been in business for at least five years.

Your loan repayments will happen monthly, by direct debit.

Usually, we do not charge fees for repaying your loan early. All fees, charges and penalties will be listed in your loan agreement and we recommend that you read it carefully and seek independent advice before signing it.

If you can provide good evidence of a future payment to your business that will facilitate repayment of the original loan, we can consider an interest-only loan. Terms for interest only are maximum of six months (with options to roll the loan later).

This depends on the size of the loan. Smaller loans may only need bank statements. Larger loans may need financial statements, and other supporting information, such as contracts, purchase orders. The more information you can provide that gives evidence of your ability to repay the loan, the more likely we are to approve your application. So sometimes it pays to give us more information.

All owners of a property that is being used for security on a business loan must sign some paperwork. This ensures that the security is correctly and legally recorded. It also ensures that the property is being used as security with their consent.

Unlike banks and other lenders, we don’t look at your credit score alone, and a poor score doesn’t mean an immediate ‘no’. We get to know you and understand the whole story. Past mistakes and run-ins don’t always define or predict your future.

No matter what lender you go to, unless you are already a customer, the law requires the lender to conduct identity checking. This means checking photo ID and verifying your home address. We must do this for all directors and shareholders with more than 25%. If shares are held by a trust, we must identity check the trustees. We’ll also be asking you about anyone else who has control over your business but is not named on your company records. We must also ask if you have a company constitution or shareholders agreement.

Yes, you can. All of the trustees will be asked to sign some paperwork. This ensures that the security is correctly and legally recorded. It also ensures that the property is being used as security with the trustees’ consent.

That’s great if you have a supportive relative or friend who will allow you to borrow against their property. They will need to sign some paperwork to provide their consent and to ensure everything is documented according to the law. We recommend that they seek independent advice about the arrangement.