Why 2020 could be the best year to take out a business loan

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Cuts, cuts and more cuts - the Reserve Bank didn’t hold back on interest rate cuts in 2019 and neither did lenders. The result? Business loan rates are the lowest we’ve seen in years and with more action from the RBA on the horizon, rates could keep plummeting! 

Add in the new online and challengers lenders popping up to take on the big banks, and Aussie businesses really have a unique opportunity to take advantage of unparalleled competition and rock bottom rates. 

So whether you’ve got eyes on expansion or just need some extra funds on hand, 2020 could be the year to take your business to new heights with one of the top business loans below.   

Top business loans for 2020

Promoted

OnDeck Short Term Business Loan
  • Borrow up to $10,000 to $250,000

  • Same-day approval available

  • 6 to 24 months loan terms

No matter what your business needs entail, On Deck can take the hard work out of finding fast funding with its Short Term Business Loan. Business owners will have access of up to $250,000 over a 6-24 month term. Online application can take as little as 10 minutes and you'll know if you're approved within hours. 

Where do I get it? Head over to On Deck to find out more >>

So whether you’ve got eyes on expansion or just need some extra funds on hand, it's well worth looking at the competitive business loans on offer from the new generation of non bank lenders. Read on for the Mozo money editors' picks of some of the top loan options on the market in 2020.

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