Unsecured Loans

• Loans from $5,000 - $500,000
• No Security Required
• Minimal paperwork
• Same day Approval
• Funds available in 24 hours

• High approval rate for new business owners with a registered ABN and trading for more than 6 months.
• Easy approvals of an unsecured business loan by demonstrating the ability to repay the loan.
• The key benefit of unsecured business loans is NO collateral or security is required, protecting your assets.
• Unsecured Business Loans are usually used by businesses for general cash flow purposes.
• The advantage of using unsecured business loans is fast settlement within 24 hours.
• With unsecured business loans the lender takes into account the cash flow being generated by the business to provide an approval.

• Business trading for more than 6 months
• Monthly Turn over of more than $ 5000
• Registered ABN

For an unsecured business loan of 100k or less - Drivers Licence and 3 - 6 months business bank statements.

For an unsecured business loan of 100k to 300k - Drivers Licence, 12 months bank statements, Interim & audited company financials (Balance sheet & Profit & Loss), Accounts payable & receivables ledger.

1. General working capital
2. Purchase stock in bulk to get bulk discounts
3. Deposit for shipments of stock, equipment etc ordered
4. Tendering for projects
5. Buy an existing business or open up a new branch
6. Consolidate Debts
7. Marketing Expenses and advertising
8. Pay wages during peak season
9. Renovation on refurbishments expenses

Access the funds you need without tying up your assets

Reduced Risk

With little or no recourse offered to lenders, you'll be able to take on an unsecured business loan without the stress of putting assets at risk. They can also act as a viable, accessible option for businesses with little or no tangible assets.

Quick Access to Capital

With no security needed to source these loan types, you'll often find that unsecured loans can be assessed and approved far more quickly than other financing options. Many of our lenders aim to finalise applications within just a few hours.

Affordable Repayments

The lender will build your loan around the financial circumstances of your business, ensuring that the repayments remain transparent and affordable.

Specialist Lenders

We'll only match your business with unsecured business loan lenders who are experienced in providing these loan types to your sector. You'll not only have a higher chance of acceptance but will be able to draw on their years of experience helping businesses just like yours.

1. No collateral required.

   Drawing an unsecured loan does not require the borrower to present some personal, or business asset as collateral. This contrasts with secured loans, where lenders disburse the loan only after assessing the property being presented as collateral — and can repossess the property in case you default on your payments.

2. Amount of loan not constrained by the value of an asset.

   The amount being disbursed as secured loan usually depends on the property or asset being presented by the borrower as collateral. The loan amount is generally around 60 to 70 percent of the market value of the asset — as assessed by the lender. Unsecured loans are not constrained by such conditions, and the amount sanctioned by the lender depends purely on the cash flow of your business.

3. Faster turnaround time.

   Unsecured loans have a much faster turnaround time. Since lenders don’t need to assess the value of a physical asset, the application can be completed and processed online. The loan can be released to your account in as little as 24 hours after you put in your completed application. This makes unsecured loans a lifesaver when you need an urgent infusion of cash to prop up your business.

4. Builds up your credit history.

   If you manage to successfully pay off all the instalments of your unsecured loan, it will help build a credit history for your business and make the process of obtaining future loans easier.

5. Your business assets are safe.

   Lenders often turn to the seizure of business properties in case the borrower is unable to repay a secured loan. Since there is no collateral hypothecated to the lender, there is no possibility of seizure of a property.

1. Higher rates of Interest.

   Unsecured loans represent a fair amount of risk for lenders, since they don’t have any collateral to seize in case of a default, Lenders usually charge a significantly higher rate of interest for unsecured loans to offset the risk, as compared to a secured loan. The rate of interest depends on various factors such as the time in business, industry type, cashflow and the risk profile.

2. Smaller loan amount.

   In absence of a collateral which poses a higher risk for the lender, most lenders usually are comfortable disbursing loan amounts of upto 100% of your average monthly turnover.

3. Shorter Tenures.

   To minimize the risk exposure, the lenders allow a tighter re-payment schedule for the borrowers to adhere to. Flexible repayments include daily, weekly, fortnightly or monthly repayment options.

4. Liability.

   An unsecured loan does not mean that you can simply walk away without repaying what is due

5. Loan eligibility

   Unsecured business loans do not require you to put your personal assets at stake. The business must be trading for at least 6 months under an ABN an should be generating at least $5000 in revenue per month.

   Conclusively, unsecured business loans can be the best, or the worst choice for you — depending on several variables including your financial condition, credit score, the purpose of the loan, and so on. As such, it may be a good idea to sit down and discuss your requirements with your accountant on what is best for your business or alternatively you can call 1800 864 769 for an obligation free consultation with a lending consultant.

Aside from an unsecured business loan, merchant cash advances and lines of credit are also viable options for financing.

Merchant Cash Advance

Is an ideal financing solution for businesses who accept credit and debit cards in their business.

A Merchant Cash Advance is an innovative alternative to a traditional small business loan. The lender utilizes your expected future credit and debit card sales to be able to provide you with working capital, so you can put your business plans into action.

Instead of fixed daily payments, the repayment for an MCA is completely flexible and works alongside your natural cash flow. During the length of your payback period, a small percentage of your daily credit/debit card sales is withheld until the advance is paid in full. This allows businesses the flexibility to make lower payments during periods when cash flow slows down.

A Merchant Cash Advance is right for you if:

• Your business accepts credit cards as a form of payment from customers
• You are looking for something that is flexible
• You don’t want to pay monthly minimums
• Your sales tend to fluctuate and so you want to pay as you go
• You’re looking for a fast and simple financing solution

Like a loan, an unsecured cash advance is money that is secured on nothing. The benefit of business cash advances is that collateral is not needed, making it unsecured. Business cash advances are usually given out based on your past credit history, existing business volume, and also repayment potential.

An unsecured cash advance makes getting money easier and more accessible. The process of approval does not take as long. Credit score, however, is the most important factor that lenders consider when offering loans to businesses. The higher the credit score, the higher amount of money may be available to you with a lower interest rate. Business cash advances can be borrowed from many financial institutions. A business owner may choose to borrow money from an institution online or in a banking facility.

An agreed amount is made available for you to access at any time you need it. Often with a line of credit, you will only pay interest on the drawn down amount, not the whole facility.

Some finance companies also offer similar services called lines of credit to certain types of businesses. Fintech Hub can assist you in getting fast, flexible funding to business that need it. For businesses looking for funds to get in on an amazing deal on inventory, or needing to ramp up personnel for an upcoming promotion, lines of credit can make things happen. That new piece of equipment to make your business more efficient can be a reality with a line of credit.

There is also a relatively new type of financing available in the unsecured financing market. Although it is not completely unsecured, it may provide the best of both worlds for both lenders and borrowers alike. The alternative option available is a partially secured business loan. A growing number of lenders now offer partially-secured loans for business, and for many entrepreneurs and lenders, this really could be the most attractive option available. This type of business loan provides borrowers the ability to be approved for a business loan without having to put up too much collateral. This tends to make lenders a little more willing to lend because they are still somewhat protected by the collateral that is secured. In addition, these loans are usually not forgiven by bankruptcy courts in their entirety, so lenders can feel more secure knowing that at least some, if not all of their money, is recoverable.

While an unsecured loan may not be right for every business, it may be a viable option for yours!