Finstead offers tailored funding solutions and ongoing support to business owners. With plenty of experience running small businesses themselves, there’s a good chance the team at Finstead knows how to help yours.
Thinking of getting a business loan but not sure how much you need exactly, well Finstead allows flexible borrowing that might fit your exact needs. Check out the features, fees, rates and processes that are involved with a Finstead business loan below.
from 2.85% p.a.
Principal & Interest
Within 1 Day
Non-residents and applicants who are currently bankrupt are ineligible.
Interest rates start from 2.85% p.a. for equipment loans and 6% p.a. for cash flow loans. When you apply for a loan, Finstead will give you a personalised interest rate based on your credit score, asset backing, and the length of time you’ve been in business. The better positioned you and your business are, the more likely it is you’ll receive a cheaper rate.
Fees generally range from $250 to $750, depending on the size of the loan and your credit profile. These will be added to the loan amount rather than billed to you as a separate charge.
To apply for an unsecured business loan or equipment finance, you’ll just need your licence, though a full submission will sometimes require a few financial statements. You’ll also need to submit a Fact Find along with an assets and liabilities statement.
Once this information has been reviewed, Finstead will prepare a credit proposal and send it through to a credit analyst for review. At this point you may receive a request for further clarification. Otherwise, Finstead will notify you of your approval and outline the terms of your loan.