Red hot business loans to launch your big idea
A lower company tax rate and an increase in the instant asset write-off - the new financial year has brought with it some seriously good news for Australian businesses big and small.
So if you’re determined to hit the ground running in the 2019/20 financial year by expanding or giving your business a boost, is now the right time to put your plans into action?
Whether it’s purchasing some much needed equipment - like a new delivery van or an office coffee machine - or even hiring new staff to help your business grow, you might need some help along the way.
To get started, check out some of these red hot business loans that could help make those big ideas become reality.
2019 Business Loans
Moula - Business Loan
- Unsecured funding from $5k-500k
- Rates from 0.61% per fortnight
- No upfront or ongoing fees
With unsecured business loans from as little as $5,000 all the way up to $500,000, Moula has the funding options to suit ideas big and small. Borrowers will be able to take advantage of interest rates from 0.61% per fortnight, plus they won’t need to worry about shelling out any upfront or ongoing fees. Better yet, with Moula’s easy online platform, businesses will be able to apply in just 10 minutes and potentially receive funding within 24 hours of being approved.
OnDeck - Short Term Business Loan
- Funding from $10,000 - $250,000
- 10 minute online applications
- Short term loans from 6 months to 2 years
If it’s a short term funding solution you’re after, OnDeck could be just the fit for your business with unsecured loans available from $10,000 to $250,000 over terms of six months to two years. Speaking of short, OnDeck makes applying as quick and pain-free as possible with a 10 minute online application process and funding in as little as one business day once you’ve been approved.
Shift - Business Loan
- Rates from from 0.87% per month
- Borrow up to $500,000
- Fast applications and funding
Looking for an unsecured loan to fund that new renovation or next big purchase? With interest rates starting from 0.87% per month, Get Capital provides businesses who have been trading for at least nine months (and have a minimum annual turnover of $120,000) with funding from $10,000 to $500,000. Plus with simple applications and next day funding (once approved), you’ll be able to turn that idea into reality - fast!
businessloans.com.au - Flexible Business Loan
- Interest rates from 0.87% per month
- Unsecured loans from $10k-$500k
- Funding within 24 hours of approval
It’s all in the name with businessloans.com.au’s Flexible Business Loan which can provide a flexible funding option from anywhere between $10,000 - $500,000, with rates starting from 0.87% per month. Aside from a speedy application process, businesses will even be able to see the funds hit their bank accounts within 24 hours of their application being approved.
Beyond Merchant Capital - Unsecured Business Loan
- Borrow between $5,000 and $500,000
- Rates from 1.00% per fortnight
- 10 minute online applications
Securing funding for your business doesn’t have to be a hassle, which is why Beyond Merchant Capital have developed an online platform which allows businesses to apply in minutes and receive funding in as little as 48 hours. Businesses will be able to take out and unsecured loan between $5,000 and $500,000, and they’ll be offered a personalised rate depending on their turnover from 1.00% per fortnight.
Prospa - Prospa Plus Business Loan
- Unsecured loans from $5k to $300k
- 3 months to 2 year loan terms
- Rates starting at 9.90% p.a.
Prospa know a thing or two about business loans, which is why they’re able to offer businesses funding in as little as 24 hours from approval. When it comes to the numbers, eligible businesses will be able to borrow between $5,000 and $300,000 over loan terms between 3 months and 2 years, plus interest rates can start from just 9.90% p.a.
Ready to check out even more business loan offers? Head over to Mozo’s business loans comparison hub to compare over 40 business loans from both banks and online lenders.
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