Finstead Business Loans

Finstead logo

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.

Finstead business loans - what you need to know

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.

FAQs about Finstead

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How are interest rates determined?

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.

What fees are there?

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.

How does the Finstead approval process work?

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.

What features should I know about?

Unsecured loan

Finstead offers unsecured business loans, meaning you can apply for finance without putting up a major asset as collateral. This can benefit small businesses and start-ups that might not have many assets to pledge. 

Tailored support

Clients will be partnered with a dedicated specialist who can help with any queries or issues across both unsecured business loans and equipment finance. What’s more, clients purchasing a new vehicle will also be assigned a procurement team to help them find one for the best possible price.

Loans between $10,000 and $1 million

Business owners can receive between $10,000 and $1 million in funding, depending on how well positioned the business is. On equipment loans, loan amounts can go up to $10,000,000.