You’ll be able to apply for a business loan with big banks, smaller credit unions and online lenders. No business loan is the same either, as many lender will have their own assessment criteria and offer their own interest rate.
Let’s face it, there are a number of different business loans out there - Mozo can help you compare a stack of different business financing options all in the one place.
Right here! Once you’ve used our business loan comparison tool, click the blue ‘go to site’ button, this will take you to the provider’s site where you start an application
Zip Business Trade from $1,000 to $3,000 interest free. Account fee is $12 per month, it is waived if you have zero balance. (T&Cs apply, see website for more details. Credit approval criteria, fees and charges apply.)
Zip Business Trade from $1,000 to $3,000 interest free. Account fee is $12 per month, it is waived if you have zero balance. (T&Cs apply, see website for more details. Credit approval criteria, fees and charges apply.)
Finstead Equipment Loan with market leading rates and one dedicated specialist from start to finish. Tailored finance solutions with ongoing finance support.
Finstead Equipment Loan with market leading rates and one dedicated specialist from start to finish. Tailored finance solutions with ongoing finance support.
Get your customer invoices paid early, without waiting up to 90 days for payment. Apply online in 10 minutes and select your local or overseas invoices to fund. Flexible funding with no lock-in contract.
Get your customer invoices paid early, without waiting up to 90 days for payment. Apply online in 10 minutes and select your local or overseas invoices to fund. Flexible funding with no lock-in contract.
A straight forward business loan with no hidden fees or charges. Achieve business goals through having fast, easy access to finance to give your business the boost it needs.
A straight forward business loan with no hidden fees or charges. Achieve business goals through having fast, easy access to finance to give your business the boost it needs.
Business Loans from $5,000 to $600,000 with high approval rates. Access to funds in as little as 3 hours. Cash flow friendly repayments and open minded offers.
Business Loans from $5,000 to $600,000 with high approval rates. Access to funds in as little as 3 hours. Cash flow friendly repayments and open minded offers.
Waddle Invoice Finance connects with your accounting software to make managing cash flow easy. Get funds from your unpaid invoices with Waddle, a cash flow platform combining innovative tech with competitive rates and flexible terms.
Waddle Invoice Finance connects with your accounting software to make managing cash flow easy. Get funds from your unpaid invoices with Waddle, a cash flow platform combining innovative tech with competitive rates and flexible terms.
Zip Business Loans online application process can be completed in as little as five minutes, and once approved you can access the funds within 24 hours. A line of credit up to $500k that converts into a loan when you draw down. Participating lender in the SME government guarantee scheme.
Zip Business Loans online application process can be completed in as little as five minutes, and once approved you can access the funds within 24 hours. A line of credit up to $500k that converts into a loan when you draw down. Participating lender in the SME government guarantee scheme.
Fast, flexible business loans from $10,000 to $250,000. Great for businesses which have been trading for more than 6 months with a monthly turnover above $10,000.
Fast, flexible business loans from $10,000 to $250,000. Great for businesses which have been trading for more than 6 months with a monthly turnover above $10,000.
Small business loans with no repayments for the first 8 weeks. Offer ends 30 June. T&Cs apply. Prospa uses risk-based pricing to determine your interest rate, which can range from 9.9% - 26.5% p.a. simple interest. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business. Participating lender in the SME government guarantee scheme.
Small business loans with no repayments for the first 8 weeks. Offer ends 30 June. T&Cs apply. Prospa uses risk-based pricing to determine your interest rate, which can range from 9.9% - 26.5% p.a. simple interest. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business. Participating lender in the SME government guarantee scheme.
Unsecured business loans from $10,000 - $250,000, over 6 to 24 months. Online application takes only 10 minutes and you'll know if you're approved within hours. Apply now. Participating lender in the SME government guarantee scheme.
Unsecured business loans from $10,000 - $250,000, over 6 to 24 months. Online application takes only 10 minutes and you'll know if you're approved within hours. Apply now. Participating lender in the SME government guarantee scheme.
Zip Business Trade Plus loans from $3,000 to $150,000, interest free loan. No account fees or interest. One-off 3% extension fee, split over 4 instalments. (T&Cs apply, see website for more details. Credit approval criteria, fees and charges apply.)
Zip Business Trade Plus loans from $3,000 to $150,000, interest free loan. No account fees or interest. One-off 3% extension fee, split over 4 instalments. (T&Cs apply, see website for more details. Credit approval criteria, fees and charges apply.)
Easily set up a line of credit against your debtors ledger, which grows with your business. Have peace of mind you can access funds as soon as you invoice instead of waiting for your customers to pay. ScotPac is the largest non-bank lender in Australia with over 30 years' experience partnering with local businesses.
Easily set up a line of credit against your debtors ledger, which grows with your business. Have peace of mind you can access funds as soon as you invoice instead of waiting for your customers to pay. ScotPac is the largest non-bank lender in Australia with over 30 years' experience partnering with local businesses.
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
If you’re in need of a quick cash fix to get your business rolling or back on track, then you might be considering a $10,000 business loan. Taking the time to compare your options is important, as there are a number of things to consider. But don’t worry if it is your first time shopping around on business loans because we’ve answered a few common questions.
Just like applying for a home loan, your lender will asses your eligibility. While most lenders may differ in what they ask for, some common requirements include:
A business loan can be used for many small expenses, like purchasing new computer equipment, help with cashflow or even pay for training courses for your staff. However if your plans are a little larger and require a bigger cash injection, then you might want to consider a $20,000 business loan instead.
Once you start comparing $10,000 business loans, you’ll notice that there are a few different types around. While there is no better loan type, you’ll need to decide which is the right option for your business.
Short term business loans
Short term business loans are usually taken out by business owners who are in need of some quick cash to cover an unexpected bill or expense. Typically, these loans don’t last longer than 2 years and are able to be deposited into your business account within 24 hours if you’re approved.
You might want a short term business loan to pay invoices or give your business a quick cash injection. But just keep in mind, these types of business loans often come with different interest rates than you might be used to. Depending on the lender, you could find that interest is charged on a weekly, fortnightly, monthly or even daily basis.
Equipment finance business loans
If you’re in need of some new equipment or are planning to upgrade existing equipment, an equipment finance business loan could help.
If you’re serious about taking out a $10,000 business loan, then it’s important to make sure you’re choosing the right one for your business. Aside from choosing a great interest rate, you might also want a loan that comes with flexibility. Here are a few things you’ll want to keep an eye out for:
Fees
As a business owner, the last thing you want is to be tied up in fees. When it comes to business loans, some of the most common fees you may come across are:
Repayment frequency
Many lenders may offer the option to make your repayments on a schedule that best suits your business. This could be monthly, fortnightly, weekly and in some instances, daily.
Features
And if you’re committed to paying off the loan as fast as you can, then you might want to look into repayment features, like having the power to make additional repayments to your loan. By making these extra repayments, you could also save on interest. But of course life can be pretty unpredictable, especially as a business owner, which is why you might want a redraw facility. If an unexpected bill falls into your lap, you’ll be able to redraw your additional repayments to cover the cost.
If you or your business has a poor credit history, then you might be considering a bad credit business loan. It’s important to know that Mozo does not compare bad credit loans, as they often come with excessively high interest rates.
In this case, it might be worth using any savings your or the business may have or repairing your credit score first before applying.
Ready to apply for a $10,000 business loan? Then it’s time to start gathering some personal details. While every lender will have their own application process and may ask you to provide different details, some of the most common details you could asked for include:
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