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Unsecured Finance Australia … offer affordable payment options and high approval rates.
An unsecured loan may provide the opportunity to grow your business without the risk to your assets or property
Unsecured Finance Australia are leaders in the non-bank lending of unsecured business loans in Australia.
No longer are business owners restricted to only working with 4 or 5 key institutions when it comes to securing finance for their business.
At Unsecured Finance Australia we do everything in our power to make the process of securing an unsecured business loan simple. We want nothing more than to see our clients succeed and are proud to provide small business owners with the funds they need to make their dreams a reality.
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Unsecured Lending Options
Just like you we are small business owners, and we understand how difficult it is to manage the day to day operations of a business while trying to grow. We have also learnt that access to capital for operating cash flow or expansion can be a determining factor in the sucess of your business.
It’s no secret securing funding from one of the big banks can be difficult. The biggest problem with traditional lending pathways is the time it can take to process an application and the vast amount of information you must provide to get approved. Thats where non-bank lenders like Unsecured Finance Australia come in. We make the application process quick, easy and in most cases can settle funds in an approved applicants account the same business day.
settled same day
we only need the basics
up to 60 for equipment
Monday – Saturday
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Requirement: Customer needed funds to purchase the remaining half of their business from operating partner.
Our team quickly supplied an unsecured business loan and structured repayments to compliment the business.
A Wine Bar Owner Buys Out His Partner
It’s true that many successful businesses aren’t a one-man show. It can be much easier to get a business off the ground if you have a capable partner. However, not all partnerships last forever.
A Brisbane wine bar offers a great example. The two operating partners initially had many good ideas and together built a successful operation. But over time, their opinions conflicted. Needless to say, this affected the bar’s performance and growth.
After exploring a range of possible solutions for the problem, the partners agreed that it would be best for one of them to buy out the other and become the new sole owner. However, neither partner had the funds required to buy the other half of the business.
Luckily, there was a simple solution. One of the partners reached out to Unsecured Finance Australia for an unsecured business loan that he could use to buy out the bar.
In short order, our team managed to supply the client with the funds that he needed. The whole transaction went smoothly, and the client was able to buy his partner’s share. Now that he fully owns the bar, he’s free to make decisions about the bar going forward. Plus, we were able to tailor a repayment structure that didn’t overly affect the bars cash flow, leaving the owner in a strong position for the future.
Requirement: The restaurant relocated and required funds to fit out the new site.
Our teams fast turnaround gave the client access to funds from an unsecured business loan within 48 hours which enabled the owner to start fit out immediately.
A Restaurant Relocates to a New Site
For seven years, an Italian restaurant in Canberra has been operating with great success. It became very popular in the area and was always busy. However, this growth was also the restaurant’s biggest pinch point.
Because of its popularity, the restaurant outgrew its premises. There wasn’t enough space to serve all the patrons in an efficient manner, which started to hurt the restaurant’s reputation. Many people would arrive at the restaurant only to find no available tables.
The owner knew how much this would hurt the restaurant in the long run. She knew she’d have to relocate to a larger space to satisfy the growing demand for the restaurant’s food.
However, this new site was also a lot more expensive. A lot more spacious and in a busier area, it came at a price that the owner couldn’t afford at the time. Although the restaurant was successful, it was also having to turn away customers for lack of capacity. The owner couldn’t put up the money to fit out the new place and still pay their other expenses.
Because of this, the owner sought an unsecured business loan from us. She wanted to relocate as quickly as possible so our team made sure that the funds were settled within 48 hours after approval of the application. Thanks to the team’s quick turnaround, the owner was able to relocate and expand his restaurant business.
Requirement: Business needed funds to fit out new electrical van.
Unsecured Finance Australia’s fast turnaround gave client access to funds from an unsecured business loan within 48 hours to get their new van fitted out fast.
An Electrician Fits Out a New Van
A Perth-based electrician has had his business for a little more than three years. To save money, he bought a used van that served him well over the years. However, more and more issues started to surface as the van got older.
To protect his investment, the electrician wanted to buy an electric van. With the ever-stricter environmental regulations, the electrician wanted to go in the direction of eco-friendliness. Plus, the running costs of an electrical van are lower than those of their diesel counterparts.
In addition, the electrician wanted to present to his customers the face of an environmentally conscious business. However, the many advantages of an electric van also come at a cost.
To obtain the necessary funds, the electrician reached out to Unsecured Finance Australia. He needed an unsecured business loan at a fair interest rate and a convenient repayment schedule. He also needed the funds as quickly as possible in order to replace the worn-out van.
In just 48 hours, our team made this happen for the electrician. He received the money to buy the van at a fair cost that won’t affect his cash flow too much. With the new van, the electrician can now expect his business to boom.
Do I need to provide assets as security for a loan?
At Unsecured Finance Australia, we know how important your assets are. Nobody wants to risk losing their property or valuable equipment. Because of this, we offer unsecured business loans and lines of credit up to $100,000 that don’t require any collateral.
We’ll assess your business health to determine the terms and creditworthiness of each application. If you need a loan for more than $100,000 we may ask you to provide security. To ensure ease of repayment, we’ll do everything in your power to make the repayments as convenient as possible to align with your cash-flow.
Am I eligible for a small business loan?
We aim to support as many small businesses as we can with small business funding. Because of this, we don’t set sky-high criteria like the big banks.
There are three main criteria you’ll have to meet to qualify for a loan:
- A business with at least three months of trading history.
- A turnover rate of more than $5,000 per month.
- Regular cash flow (daily, weekly, or monthly).
What information do you require?
To assess if you’re eligible for a loan, we won’t ask you to submit a pile of paperwork. Unsecured Finance Australia only asks for the basics.
For your identity, we likely won’t ask for anything more than a driver’s license and your business’ ABN. And for a loan of up to $50,000, you only have to provide your business account’s bank statements for the past three months.
For a larger loan, we’ll need a bit more information. Typically a recent copy of the business financial statements.
Is my information safe with you?
Do I need a good credit score?
Traditional lenders often want to see a sparkling credit report before they will approve a loan application. We do things a bit differently at Unsecured Finance Australia. We will conduct a personal credit check but we don’t use it solely to determine your creditworthiness. In addition, we also base the decision on the health of your business.
Still, if you have a good credit score this will help support your application. Credit reporting bureaus look at a number of things in determining your credit score, which include:
- The number of recent loan applications made
- Any current credit account balances
- Overdue bills
- Past bankruptcy (if applicable)
- A good credit score paints a picture of your financial standing but remember if your credit score isn’t great its not a deal-breaker with Unsecured Finance Australia. If your business is doing alright, your personal credit shouldn’t hold you back.
How much will I pay for a loan?
As you’re probably aware, the biggest expense related to a loan is the interest. As every business is unique, we don’t set fixed interest rates. We base this decision on factors such as:
- The industry you operate in
- Time in business
- Your cash flow stability
Our team will assess the risk of your loan to arrive at an interest rate. We’ll do everything in our power to provide a fair rate that you’ll be comfortable with
How do repayments work?
When you take out a loan with Unsecured Finance Australia, you’ll know exactly how much you are required to pay, and when. From day one, we lay out a clear repayment schedule aimed at giving you full control over your finances.
If you keep up with the repayments, you won’t have to pay anything more than what you see in the repayment plan. And to help you with maintaining your payment schedule, we will tailor the payments to fit with your cash flow cycle. We’ll deduct payments from the linked business account that you provide according to the agrred schedule.
Are there alternatives to an unsecured business loan?
We offer several business funding options that can help you achieve your goals. Besides unsecured business loans, the following financial products might also interest you:
- Equipment financing – as the name implies, this type of loan is specifically for the purchase of equipment. In the majority of cases, you’ll have to provide security equal to the value of the asset that you want to buy. The upside of this is that you might be able to negotiate a lower interest rate. However, the rate will still depend on several other factors. You can purchase just about any piece of equipment, from tools and machinery through to business vehicles.
- Business overdraft – also known as a line of credit, overdraft protection is great for short-term cash injections. It’s a popular option for seasonal businesses that have to cover their expenses during the lull. You can use it to pay payroll, suppliers, or any other short-term expense that you have to cover.
- Vehicle finance – If you need to upgrade your fleet, this can be an excellent option. This financing option also applies to large and expensive assets like excavators, harvesters, commercial cookers, and such. In some cases, you can also use a regular business loan for these, so contact us if you wish to learn more.
What is an unsecured business loan?
The main difference between traditional and unsecured business loans is that traditional loans require the borrower to provide collateral against the loan. Should the borrower default on the loan, the collateral can then be used to help the lender recover their loss.
Unsecured loans don’t require collateral and are therefore riskier for lenders. To offset this higher risk, most lenders will offer unsecured loans at decreased maximum amounts and limited-term lengths.Despite these disadvantages, short term business loans can be ideal for businesses who need a small loan fast, as they are often easier and faster to apply for and receive, allowing you to get funding relatively quickly. Depending on the lender, your unsecured business loan may also offer favourable features such as early repayment options and variable loan terms.
What kind of credit score do I need for a business loan?
Business credit scores range from 0-1200, with good credit scores falling between 622-725, very good credit scores between 726-832 and excellent credit scores anything greater than 833. It is important to note that acceptable credit scores vary from lender to lender, though most lenders prefer borrowers with scores of at least 680.
Unlike traditional lenders and other non-bank lenders, the team at Unsecured Finance Australia believes in making unsecured business loans more accessible, even for those businesses without an exceptional credit score. To that end, we don’t base our lending decisions solely on your business credit score and instead take into account various other factors to help us determine your loan.
What happens if you default on an unsecured business loan?
Unfortunately, even the most financially stable businesses may default on loans due to unforeseen circumstances. While lenders may be willing to forgive a few late or missed payments, continuously forgoing payments will result in a default on your loan.
While your unsecured loan may not be backed by specific collateral, that does not mean there won’t be consequences for defaulting. Lenders may choose to charge late fees, increase interest payment rates or even file a lawsuit to claim personal and business assets to recoup their losses.
Additionally, defaulting on any loan will significantly lower your credit rating, which will negatively impact your ability to secure financing in the future, should you need it.
Remember that neither you nor your lender wants you to default on your loan. If you find yourself considering defaulting, always talk to your lender first. They may be able to offer additional assistance and guidance to ensure you won’t have to suffer from the negative outcomes of defaulting on a loan.
Running a small business can be very challenging, especially financially. Even if you’re on the right track, you might not be able to get the funding needed to scale your business. Maybe there’s an opportunity that you want to take advantage of, or maybe you need to weather a quite season. Whatever the case may be, Unsecured Finance Australia can help you out.
We’re one of Australia’s leading online lenders specialised in small business financing. We’ve helped a great number of business owners secure the funds they need to achieve their business goals. We’ll go out of our way to understand what you’re trying to achieve. We’ll then help you find a solution that fits all of your needs and leaves you with full control over your financial future.
Finding the funding to help your small business grow can be a daunting task – unless you know the right team to talk to. Here at Unsecured Finance Australia, we help small businesses gain access to the finances they need to succeed.
We offer a variety of business funding options, including unsecured business loans, to help ensure that your unique needs are met. Reach out to our team today to learn more about how we can help your businesses prosper.
We offer loans of up to $300,000 and a smooth and convenient application process. You can make quick decisions and get your hands on the funds in 24 hours.
Our team of Business Lending Specialists will get to know your business and find a personalised solution.
As one of Australia’s top small business lenders, Unsecured Finance Australia has helped thousands of small businesses to secure the funds they need to achieve their business goals.
We understand the importance of cash flow to a successful business. For this reason, we offer various business funding options that we can tailor to the specific needs of our customers. Our goal is to provide quick access to funds and work with our customers to provide a repayment schedule that won’t severely impact your cash flow.
We offer business lines of credit from $5,000 to $100,000 and small business loans up to $300,000. We do our level best to support small businesses that are looking for affordable and convenient business funding options.
When it comes to unsecured business loans, our team strives to make the application process as simple and efficient as possible so that you can receive your small loan fast.
Unlike traditional big bank lenders, we streamline the application process to make it easier, faster and more straightforward. In most cases, we can settle your application in as little as one day so that you can have access to your funds exactly when you need them.
Our simplified process extends to a wide range of financing options. Over the years, we have developed a highly specialised range of short term, fast business loans that are intended to suit various needs and industries. From unsecured business loans to invoice financing and business line of credit options, we ensure you have access to all the financing options you need to make your dreams a reality.
Businesses searching for the ideal short term business loan will benefit from our unsecured loan features, which include:
- Available loan amounts between $5,000 to $300,000
- Flexible loan terms between 3 – 24 months, with up to 60 months for equipment
- Fast approval rates – often settled the same day
- A streamlined application process with minimal documents required
- A quick and easy online application to get started
Our fast business loans are suitable for various industries and can be used for virtually any aspect of your business. From upgrading or expanding your physical location to purchasing inventory, outfitting a company vehicle, even hiring the right staff, unsecured business loans are an appealing and strategic way to fund smaller purchases and add value to your business.
Wondering whether a fast business loan is the right choice? Our experts are always happy to help you understand all available options so that you can discover which one is best for you and your business.
Whether you’re starting a new business or looking for reliable professional financial assistance to help your established company weather out some tough times, the team at Unsecured Finance Australia is here to help.
As one of Australia’s leading online lenders, we are extremely well-equipped to help you find the financing your business needs to grow. Our team comprises some of the most expert financial advisors in the field, all of whom have extensive experience in assisting small businesses.
Even more importantly, we understand that every business is unique and requires individualised solutions to ensure success. No matter your industry or business size, we promise you’ll find competitive rates, flexible terms and specially tailored financial solutions here at Unsecured Finance Australia.
Reach out to our team today to discover how we can help you.
We understand that small business owners are busy. Because of this, we offer a quick and convenient online application process. Once you’ve gathered all the necessary information, it won’t take long to fill out and submit an application online. And upon approval, you can get access to the funds in 24 hours.
Our team consists of experts who understand the needs of small businesses regardless of the industry. We know what it takes to run a successful business and understand the challenges that you might be facing. This is why we offer a host of business funding options for helping you to achieve your goals.
We know that you may have questions you want answered before placing an application. For this reason we won’t ding your credit file upon application. Simply fill out the online form to start the process, recieve all the information you require with no obligation to proceed.
Why wait when you can work on growing your business right now? It won’t cost you anything to apply and our friendly team are here to help. If you qualify for a loan, you can inject the cash into your business for whatever purpose you require. To see if you’re eligible, fill out our online application form and apply today.