Business Loan
Growing the business, or starting one? A franchise, working capital for an expansion, buying the business outright, or the vehicle and fitout a bigger footprint demands: the lending bends to the plan, and it usually starts with a short phone conversation about how the business runs.
- Pre-approval within a working day
- Rates indicated without obligation
What to expect
Start with the plan
Apply online with what the business is funding, whether that is a franchise, a fitout, working capital or the next work vehicle, and have your most recent financials and bank statements ready to follow it.
Talk first, soft check second
No credit check runs before we have spoken with you, and the check that then opens the file is a soft one, so asking leaves your credit record exactly as it stands.
Read against the whole market
The application is put to criteria from over 40 lenders, including main-bank business facilities that are never advertised to smaller SMEs and take knowing what to ask for.
Structured, signed, funded
Approval lands with the costs and the structure in writing, the signing happens electronically, and the funds go where the plan needs them. Main-bank commercial deals carry the extra assessment time banks ask for.
As a testament to our service, 1 in 3 transactions are with repeat clients.
Cost the borrowing before you commit
Your repayment
*Indicative figures only; lending criteria and the standard terms and conditions apply.
From franchise to fitout
A business loan rarely looks like the last one. This month it is a startup franchise, the next it is working capital for an expansion or the purchase of the business itself, and the season after that it is a work vehicle, equipment and furniture, an office renovation or the relocation growth forces.
Access to mortgage broking facilities alongside asset finance opens options that brokers specialising in just one of those markets never see. Several main banks keep business lending structures for their high net-worth enterprises rather than advertising them to smaller SMEs; knowing those facilities exist, and precisely what to ask for, is most of the work of reaching them.
No full accounts yet? That closes fewer doors than owners fear. A year-to-date profit and loss out of Xero or MYOB, GST returns or, depending on the security, a no-financial product can each carry an application, so ring before ruling yourself out.
Hospitality and retail
Fitouts and relocations
Business vehicles
What an approval needs
Before the application
- You are over 18, with self-employment counting as readily as full-time work; between 18 and 21, budget for a parental guarantor.
- The business, or your own income, comfortably carries the repayments.
- Recent financials and bank statements are on hand, or you have rung to walk through the alternatives.
- Your identity can be confirmed, as an AML check is a standard condition of every approval.
Dented credit gets talked about here, not filed away. With no set criteria sheet on the broking side, one conversation establishes which lenders would consider the deal and the rate band it would land in. Turned down by a bank already? Naming it shortens the road to a real answer.
Two minutes with Sam beats an hour of guessing: 0508 662 456.
Business loan questions
Is a five year term loan the only structure?
No, and it is often not the best one. A business that upgrades equipment regularly can suit a working capital facility that allows overpayments, while repeat purchasers can sit under a lending cap facility: an approved limit that spares you applying fresh for every new purchase. The structure gets fitted to the business and its goals, never the reverse.
What will a business loan cost us?
Fees and rates move with each applicant's financial position, and every associated cost is set out with your pre-approval, so nothing surfaces for the first time at signing. Wanting a sharp estimate before applying is exactly what a quick call is for.
We already have business lending. Worth a review?
If the interest feels heavy, yes. Existing lending can be reviewed for room to save, and regular ongoing training with the lenders keeps that comparison current on their products and options.
The business has no financials yet. Now what?
Ring before assuming the answer is no. A year-to-date Xero or MYOB profit and loss, GST returns or, depending on the security on offer, a no-financial product can each stand in for full accounts.
Does GST change the amount we should quote?
It changes what to put into the calculator. Work from the GST exclusive price for the more accurate figure, because the GST portion is quite often refunded onto the loan around month three.
Will asking about rates mark my credit file?
Asking never does. The opening check is a soft one that leaves your credit untouched, and nothing harder runs until after we have actually spoken.
How fast does business funding move?
Review starts the day the application arrives, and a straightforward asset-secured deal lodged before midday can hold its approval within the hour. Commercial lending through main banks runs slower, because banks want additional information and assessment before committing.
What exactly does a pre-approval confirm?
An offer of finance with the interest rate, the repayments and any lending conditions confirmed in writing. The standard conditions are signed documents, the AML identity check and, where an asset is being purchased, insurance over it. Holding one commits the business to nothing.
Put the question to the market
The first step is a conversation and a soft credit check, so finding out what the business could raise commits you to nothing and marks nothing.
Business finance is provided subject to lending criteria and the standard terms and conditions.