Typical uses
- Renovating your business premises
- Moving to a new location
- Buying inventory
- Hiring and paying employees
- Buying equipment
- Increasing working capital
- Covering marketing costs
- Making tax payments
Term loans for small businesses
Business term financing lets you borrow often without using assets as security, with approval based on your business’s finances and credit profile.
Requesting a quote has no impact on your Credit Score.
What is a business
term loan?
Business term loans let you borrow money, often without offering collateral like property or equipment. Approval is based on your credit score and financial health, making them faster and more flexible than secured loans. These loans typically range from 3 months to 5 years and are a great option for short-term needs, offering quick funding without risking your business assets.
While they generally don’t require assets as security, these business loans often have higher interest rates and smaller borrowing limits because they carry more risk for lenders.
If your business defaults, the lender will not normally have direct recourse against your property (like they would with a home loan), but you may still be personally liable if you've signed a director's guarantee.
More about business term loans
Eligible assets
Common industries
- Retail
- Hospitality
- Trades
- Construction
- E-commerce retailers
- Health and wellness
- Professional services
Eligibility
You may be eligible for a business term loan if your business:
- Has an active ABN or ACN
- Is registered and operating in Australia
- Has been trading for at least 6-12 months
Specific criteria can vary between lenders and products.
Get a quote
Requesting a quote has no impact on your credit score.
The benefits of business term loans
You typically don't need collateral
It's more accessible to business owners who may not have valuable assets to offer.
Clear repayment terms.
Enjoy predictable repayments that make cash flow planning easier.
Simple application process.
Minimal paperwork and hassle—so you can apply quickly and get back to business.
Can be used for a variety of business needs.
From wages to inventory, marketing, and unexpected costs—whatever your business needs.
Fast access to funds.
Quick approval and funding so you can jump on opportunities or manage urgent expenses without delay.
You typically don't need collateral
It's more accessible to business owners who may not have valuable assets to offer.
Clear repayment terms.
Enjoy predictable repayments that make cash flow planning easier.
Simple application process.
Minimal paperwork and hassle—so you can apply quickly and get back to business.
Can be used for a variety of business needs.
From wages to inventory, marketing, and unexpected costs—whatever your business needs.
Fast access to funds.
Quick approval and funding so you can jump on opportunities or manage urgent expenses without delay.
You typically don't need collateral
It's more accessible to business owners who may not have valuable assets to offer.
Clear repayment terms.
Enjoy predictable repayments that make cash flow planning easier.
Simple application process.
Minimal paperwork and hassle—so you can apply quickly and get back to business.
Can be used for a variety of business needs.
From wages to inventory, marketing, and unexpected costs—whatever your business needs.
Fast access to funds.
Quick approval and funding so you can jump on opportunities or manage urgent expenses without delay.
Things to consider before applying
Potential drawbacks to be aware of
- Interest rates are often less competitive than secured loans.
- These loans can have harsh repayment terms and are typically available for shorter timeframes.
- Lenders may ask business owners for a director's guarantee.
- You could be charged setup or ongoing fees.
Questions to ask yourself
- Am I struggling to meet any current repayments?
- Do I need funds now, even if it impacts future cash flow?
- Do I have outstanding bills or expenses I want to pay off?
- Am I okay sharing details about my business to apply for a loan?
At a glance
MAXIMUM LOAN AMOUNT
$500,000
MINIMUM LOAN AMOUNT
$5,000
SPEED
WITHIN 24 HOURS
INTEREST RATE
14%
MAXIMUM LOAN TERM
3 YEARS
MINIMUM LOAN TERM
3 MONTHS
Requesting a quote has no impact on your Credit Score.
Potential lenders
How to apply for a business term loan
STEP 1: GET A QUOTE
Tell us about your business loan needs and immediately receive quotes from over 90+ bank and non-bank lenders.
STEP 2: GET APPROVED
Confirm your quote and we handle your business loan approval so you can focus on what matters—your business.
STEP 3: GET FUNDED
Sign your finance documentation and receive funding. It is that simple.
Get a quote
Requesting a quote has no impact on your credit score.
What sets us apart
DIY business loans
Lender access
Access to 90+ lenders matched to your business profile
Limited to the lenders you can find
Expert guidance
A lending expert is with you every step of the way
No expert help- you're on your own to understand requirements and loan options
Time investment
One single application
Multiple applications and follow-ups with different lenders
Matching accuracy
Our product-matching software combined with human insight pairs you with best-fit lenders
Trial and error- may apply to several lenders who aren't suitable
Application process
Streamlined, digital, and guided
Manual and varies across lenders
Approval speed
Funding in as little as 24 hours
Slower, as each lender has its own process
Chances of approval
Higher chance of approval with tailored lender matching
Risk of rejection when applying with the wrong lender or product
Understanding loan terms
Our lending experts make sure you fully understand the terms before you say yes
You’ll need to interpret lender jargon and fine print yourself
How we help fuel your business growth
ONE APPLICATION TO 90+ LENDERS
We simplify business finance by handling the hard work. Complete a quick form or speak with a specialist, and we’ll match you with the right solution from 90+ lenders—often within 24 hours.
PERSONALISED SUPPORT
Our expert brokers cover all areas of commercial finance. From your first quote to settlement and beyond, you’ll have a dedicated broker by your side—ready to support your funding needs now and in the future.
BUILT FOR AUSTRALIAN SMEs
Since 2015, we’ve helped over 30,000 Australian SMEs across every industry access $3 billion in funding—supporting them through challenges and unlocking new opportunities.
Learn more about business term loans
FAQ's
What is a business term loan?
A business term loan allows you to borrow money and repay it over an agreed period, usually with regular repayments. These loans can be either secured or not, depending on the lender and your business profile. In many cases, you won’t need to provide an asset as security, which can make access to funds more straightforward.
What are the requirements for a business term loan?
Every lender has different requirements, and each application form will have its own set of questions. For unsecured loans, you typically need to have a clean credit history and consistent turnover.
Plus, for most business loans, you can expect to provide business registration details, financial, tax and cash flow statements, and balance sheets.
Do I need collateral for a business term loan?
You often don't need collateral to access a business term loan, meaning you don't need to put forward an asset in order to secure it.
How do I apply for a business term loan?
If you're considering a business term loan, we can help. Fill out our quick form, and our lending experts will then get in contact to confirm your details and find the right funding solution for your needs.
How long does it take for a term loan to be approved?
A business term loan can be approved within 24 hours of your application.
How much can I borrow on a business term loan?
You can borrow anywhere from $5,000 to $500,000 with a term loan.
How do secured vs unsecured business loans differ?
Some loans require ‘security’ or ‘collateral’—such as real estate or a vehicle–that the lender can claim in the event of default to recoup any losses incurred. As a borrower, having your asset or property on the line is a good incentive to make repayments on time.
A lender’s imposition of collateral depends in part on their assessment of your creditworthiness. They base these on several factors such as your business track record and credit score. So presenting a positive picture of your company and its reputation also shapes the terms of the loan that you get.
Hear from our clients
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