Bizcap Business Loans

Since launching in 2018, Bizcap has been committed to helping small businesses access finance when they need it most. The Melbourne-based lender is backed by a management team that has over 15 years of experience in underwriting.

Bizcap business loans - what you need to know

Bizcap prides itself in being an “open-minded lender”, so one of their main points of difference is that they also welcome businesses with bad credit, defaults or judgements of hardships. 

Bizcap offers business loans ranging from $5,000 up to $600,000 with repayment terms of 3-12 months. Read about all the key features and fees that come with Bizcap’s unsecured loan below. 

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FAQs about Bizcap

How are Bizcap’s interest rates determined?

Bizcap offers personalised interest rates based on their assessment of your application. The rates and fees of your loan will be determined by factors including your cashflow, payment history and general financial strength, as well as how many years you’ve been trading, your assets and your purpose of applying for finance. 

What fees are there? 

With Bizcap’s business loan, you’ll need to budget for upfront fees starting from either 3% of the amount borrowed or $399 (depending on which is larger), plus a $299 exit fee. But the good news is there are no ongoing fees to worry about and if you finish repaying your loan early you’ll even receive an early payment discount. 

How does the Bizcap approval process work? 

Bizcap promises businesses a fast application process that takes about five minutes, and assuming that you’ve filled out all the details correctly, you could be approved in two hours and receive funds in your account in three business hours. Just bear in mind that you could experience delays in loan approval if you provide partial or inaccurate supporting documentation. 

What do I need to be eligible? 

The age of your business as well as its revenue history, assets and credit history could all affect whether you get approved or not. To be eligible, you must be in business for at least six months, have a monthly turnover of more than $10,000 and have an active ABN. 

What features should I know about?
Approval in 3 hours 

Yes, you read it correctly! Bizcap says that once they’ve received your application and all the supporting information they need, it can take as quickly as three hours for them to finish assessing your file and make you an offer. If you need those funds urgently, just let your Loan Specialist know and they’ll even fast track your application for you. 

Cashflow friendly repayments 

Bizcap understands that every business will go through financial peaks and troughs so they offer the choice of daily or weekly repayments based on your cashflow movements. 

Early payout allowed 

Have the financial means to pay off your business loan sooner than expected and save on interest? With Bizcap, you won’t be penalised for paying out your loan early. Once you’ve alerted your Loan Specialist to the situation, they’ll organise an early payment discount for you. 

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