How do I choose a business loan in Australia?

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FAQs

• 01What loan is best for my business size?

  Whether you work solo or manage a large team, different loans work better depending on your size and structure. From flexible loans for smaller businesses to structured facilities for larger enterprises, we’ll help you figure out which one actually fits your business. No cookie-cutter solutions here.

• 02How do I know if my business is eligible for a loan?

  Lenders generally look for steady revenue, a clean credit history, and a clear plan for how you’ll use the funds. We’ll help you figure out if you tick all the boxes before you even hit 'apply'.

• 03What do you need to prepare for a business loan application?

  Every lender has a slightly different checklist. Our brokers will do the heavy lifting for you, but if you’re heading in solo, here’s the standard toolkit you’ll need to have ready:

  • Who you are
    • Legal business name
    • Your Australian Business Number (ABN)
    • Business address and contact information
    • Ownership type of company
    • Current owners
    • History of company
    • Photo ID, like your passport or driver’s license
    • ID documents, like your birth certificate or Australian citizenship certificate
  • How healthy your business is
    • Gross annual revenue
    • Tax returns and assessments from the last two years
    • Company tax returns (past two ears)
    • Client account documents
    • Balance sheets and/or profit and loss statements (past two years)
    • Proof of income, like payslips orletters of employment
    • Business banking account number and balance
  • What you own (and can be used as collateral)
    • Physical assets, like land, building, equipment, or vehicles
    • Financial assets, like stocks, bonds, or crypto
    • Intellectual property, like patents owned
  • How your other business ventures are doing, if any
  • What you owe
    • Debts, like leases, overdrafts, loans, taxes, or any other financial obligations
  • How you will be repay your loan
    • A well thought-out budget
    • Cash flow analysis including debt payment schedule, accounts payable, and accounts receivable

  Got questions? Ask us. We’ll cut through the noise so you can move forward with total clarity.

• 04How long does the application process actually take?

  We know business moves fast, so we focus on providing a clear answer without the usual bank delays. Instead of just listing options, we guide you toward the best decision for your situation to reduce uncertainty. We’ll walk you through each step of the process to keep your momentum going and get you an answer when it matters most.

• 05Can I use a business loan for multiple purposes?

  Absolutely! Many loans can be used for more than one purpose. For example, you might use funds to buy equipment, cover short-term cash flow gaps, or fund a small expansion all with the same loan.

• 06Which lenders are on Valiant’s panel?

  We have 95+ lenders—both bank and boutique—on our panel, including ANZ, NAB, and Westpac and non-bank lenders like Moula, Ondeck, and Prospa. If you're not sure which lender is right for you, we can help. We'll provide you with customised quotes and solutions, tailored to your needs, so you can make an informed decision.

• 07How do I compare lenders effectively?

  To compare lenders effectively:

  • Look beyond just the interest rate. Check repayment terms, fees, eligibility criteria, approval speed, and flexibility.
  • Consider how each lender treats businesses like yours and whether their products match your funding goals.
  • Use a marketplace like Valiant Finance to see multiple options in one place and find the right fit without guessing.
• 08Will taking out a business loan affect my credit score?

  Taking out finance can improve your credit score, assuming you meet repayment deadlines. In fact, the right business loan can actually give your financial health a serious boost.

  If you’re unsure whether financing is right for you, the great thing about our service is that you can check your rates and eligibility for finance before proceeding with an application, meaning your inquiry will have no impact on your credit score whatsoever.

• 09How do secured vs unsecured business loans differ?

  Some loans are ‘secured,’ meaning you use an asset—like a van or a commercial property—to back the deal. It gives the lender more confidence, which usually means a better rate for you. As a borrower, having an asset on the line is a good incentive to make repayments on time.

  Whether a lender asks for collateral usually comes down to your business track record and credit score. Putting your best foot forward and showing off a solid reputation helps you land better loan terms.

• 10Invoice finance vs line of credit: Which one fits your needs?

  With invoice financing, you can tap into cash from unpaid invoices, using accounts receivable as collateral, which means you get quick access to working capital. A line of credit, on the other hand, is a flexible safety net that lets you access funds as needed, paying interest only on what you use. Invoice finance is more suited to businesses with outstanding invoices, while a line of credit is typically more versatile and adaptable to different financial needs.

• 11Bank loan vs alternative lender: Which is better?

  Bank loans usually offer lower interest rates but have stricter eligibility and longer approval times. Alternative lenders tend to be faster and more flexible, often helping newer or smaller businesses access funding, but they may come with slightly higher costs.

  Here’s the rule of thumb: If you need cash tomorrow to seize an opportunity, go alternative. If you’re playing the long game and have the paperwork ready, a bank loan is your best bet for a lower rate.