Limba Business Loans

The team behind Limba have been providing financing to Australian businesses for more than twenty years. Previously known as City Finance Business Lending, the lender aims to provide fast and flexible solutions to Aussie businesses, while retaining a personal touch.

Limba business loans - what you need to know

Thinking of getting a business loan but not sure how much you need exactly, well Limba allows flexible borrowing that might fit your exact needs. Check out the features, fees, rates and processes that are involved with a Limba business loan below.

FAQs about Limba

What are Limba’s interest rates and fees?

When determining the amount of interest you’ll pay, Limba will take into account several factors, such as how long your business has been operating and how much revenue it brings in each month. Because of this, interest rates will vary from business to business, but they can go as low as 2.40% per month.

As for fees, there is a 2% or $500 minimum upfront fee, along with a $2.50 direct debit fee which is charged with each transaction.

What do I need to be eligible for a Limba business loan?

To be eligible for a business loan with Limba, your company will need to have been operating for at least six months, and as an owner you should have your ABN and transaction history at the ready. You may also be asked to provide a few additional documents, such as BAS (business activity statements), tax returns, or financial year-end statements.

How does the Limba approval process work?

Signing up for a loan with Limba could be a quick and relatively hassle-free process, and can be done over the phone or online. You’ll have to provide a few bits of information — basic identification details, information about your business, along with how much you intend to borrow. All up, it should take no more than a few minutes.

When determining your eligibility, your application will be reviewed by a real person, rather an algorithm. They’ll consider a number of things, such as the health of your business and the amount you’ve requested, and devise a repayment plan that works best for you. You can generally expect a decision in a matter of hours, and if you’re approved your requested funds will reach you within one business day.

What features should I know about?
Borrow $5,000 - $200,000

With Limba, you’ll be able to borrow as little as $5,000 or as much as $200,000. So whether you’re buying inventory, hiring new staff, or planning a full-scale remodelling of your shop, chances are they can help. 

Fast funding

When it comes to obtaining funding for your business, timing can be crucial, especially if there’s a big opportunity you want to take advantage of in the short-term. Assuming your business ticks all the necessary boxes, you can expect your requested funds to be transferred to your account within one business day. 

Unsecured loan

Often when dealing with lenders, business owners hit a roadblock in the form of security requirements. Not so with Limba, at least for those borrowing less than $50,000. If, however, you’re after a loan of between $50,000 and $200,000 you’ll be required to put up security in the form of real estate.

Flexible repayment schedule

After receiving your loan, you’ll get between 3 and 24 months to pay it off. Your repayments will be direct debited, and you can choose whether to pay weekly, fortnightly or monthly - whichever works best for your business budget.

Customer service

If at any point during the application process you have a question or feel you could do with some assistance, you’ll be able to get in contact with one of Limba’s dedicated loan specialists, who’ll be able to discuss your situation with you and suggest the best course of action for your business.

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