Bigstone Business Loans

Bigstone logo

Bigstone is an Australian online peer-to-peer lender founded in 2014. Its main aim is to provide financial opportunity for small and medium size businesses by offering fair and fast business loans. A focus on getting loans to your business as quickly and effectively as possible means there’s no unnecessary waiting around with Bigstone.

Bigstone business loans - what you need to know

Interested in a Bigstone business loan to grow your Aussie small business? We’ve rounded up some of the need to know details, from interest rates, to fees, to features, so you can get an idea of what’s on offer. Check it out below.

FAQs about Bigstone

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How are interest rates determined?

Bigstone understands that every business is different and in turn has specific needs when it comes to choosing a loan. That’s why it's loans are based on a number of factors that are personal to your business.

When you go to apply, you’ll have to answer questions about things like your business practices, your business’ financial history, and your credit score. This helps Bigstone get to know you,  so you can find an option that perfectly fits your business loan needs.

What fees are there? 

While there are no exit or ongoing fees, Bigstone charges an upfront market access fee in order to fund your loan through their online marketplace. Other fees you may have to watch out for are a daily fee if you default, with penalty interest, as well as a direct debit dishonour fee.

How does the approval process work?

Bigstone has a simple online process involving a number of questions about your business, which gives you a free quote. Then you’ll need to provide some information and paperwork about your business, such as monthly turnover. As a peer-to-peer lender, Bigstone approves your application, then connects you as a borrower to an individual looking to lend money.

What do I need to be eligible?

Bigstone is open to many small and medium size businesses and is keen to make sure you are able to receive the loan you need in almost any situation. The eligibility requirements to apply for a loan include:

  • - Be an Australian company operating longer than a year
  • - Have more than 1 employee
  • - Make at least $10,000 in monthly revenue
  • - Check out Bigstone today if you are interested in getting a business loan for your company

Key features of Bigstone business loans
Under 24 hour borrowing time

Using a number of methods such as cloud accounting, bank statement integration and the use of business software Xero, Bigstone is often able to get you your loan in under 24 hours. If you don’t need a loan that quickly however, then you are able to pick a 2-14 day payment time and save up to 2% on your loan.

Minimum and maximum amounts

With Bigstone you can borrow a minimum loan of $10,000 and a maximum of $250,000. This is great for a medium sized business which need a quick pick me up, a small business that needs that foundational basis to really their grand idea up and running and everything in between.

Simplified process

Bigstone aims to make the process of getting and repaying your loan as simple as possible, with a dedicated customer team ready to answer questions, an easy weekly repayment system and a one-step bank connection, putting your bank statement directly into Bigstone’s secure assessment platform.

Flexible repayment time

Bigstone business loans allow you to repay your loan over terms up to 24 months, allowing you to pay it off quickly or over time depending on what suits your cash flow and business needs.

No property as security

Often when you’re looking for business financing, not having a brick and mortar property to put up as security can be a big obstacle. Since Bigstone offers unsecured loans, this isn’t a problem anymore. Instead, your application will depend on things like your business, how well it’s doing and where it’s headed in the future.