Unsecured Business Loans
Unsecured business loans from $10K to $200K is a simple finance solution to help your business grow
Trading 9 months+ | No financials | No security | Up to 100% of monthly turnover | Fast settlement
Unsecured business loans for new business
- High approval rate for new business owners, ABN 6-12 months with good evidence of trading history.
- Approval for unsecured business loan is to demonstrate the capacity to repay the loan.
- The key benefit of unsecured business loans is NO collateral or security is required, protecting your assets.
- Unsecured short-term business loans can fund daily operations or invests in new products and services.
- The advantage of using unsecured business loans is fast settlement within 2 to 5 days.
- Business must be operating from leased premises or show proven online trading and consistent sales.
- With unsecured business loans the lender takes the risk, and carefully considers all other debt commitments for overall credit risk.
How Unsecured Business Loans Work
100% business revenue lending, no need for collateral. Protect your assets
For loans under $70K. Require 6-12 months business banking statements
From 3 to 18 months for cash advances, invoice finance and LOC
Choose loans with daily, weekly or monthly repayment schedules
Apply online for quick pre-approval. Can issue indicative offer same day
In 5 -10 days providing all information is supplied with application and good credit
Unsecured Business Loans Short-term
- Working capital is the money you need to run the business day-to-day while you wait for money from sales to come in.
- This includes stock, cash in the bank plus debtors. minus liabilities, such as creditors, tax accruals and any short-term business loans.
- Having insufficient working capital can impact on your cash flow and cause your business to fail.
- To understand your working capital needs, you should prepare a monthly cash flow budget for the 1st 1-2 years.
- Then research the best unsecured business loans considering your trading history, industry or sector with the funding cost.
Unsecured business loans benefits
Businesses, whether large or small, need funding to grow. There are many sources of finance and many factors that will influence which funding works best for you. The primary reasons for using unsecured business loans short-term are;
- working capital to continue operating while waiting for invoices payment
- purchase of operating equipment or updating to new technology
- Deposit for shipments of raw materials and components already committed to production
- intention to undertake a particular project or commencement of a new contract
- acquire a new business or franchise opportunity
- need to refinance existing liabilities or payout a business partner
- difficulty obtaining traditional bank finance having no security to offer
Unsecured Business Loans no collateral
- What is the right unsecured finance structure for your business?
- What type of capital do your need over what term?
- Have approached your bank and discussed their criteria?
- Have you compared unsecured and collateral loans?
- Can the business service more unsecured debt?
- Have you implemented collection procedures to manage debtors?
- Have you considered funding your insurance premiums?
Unsecured Business Loans how to Qualify
- Solid evidence of trading over 6 months
- Business premises lease agent details
- Six months recent bank statements
- Financials for deals above $70K
- Outstanding overdraft and other loans
- Evidence of any paid defaults
- 100 PT Owner ID including driver licence
Unsecured Business Loans alternatives
Every small business will experience late payers during its existence. Whether this from many small monthly customer’s or one large client from an ongoing project, it can leave SMEs struggling with cash flow problems due to the payment gap between products or services delivered, and the invoices paid.
If this toxic customer payment pattern continues for weeks or even months, it is time for a small business to look for alternative capital to alleviate the cash flow problems affecting its business. The solution could be through unsecured business loan finance to provide the much-needed short-term funds or invoice financing to cover this gap. More information on multiple unsecured business loan option on our FAQ page.
The other option is collections and engaging a solicitor in demanding the invoices owed are repaid where the age of the debt is 60 days plus. Many small business owners are reluctant and cautious about upsetting existing and new customers plus the added expense and time of chasing late payments through legal methods.
To better manage the financial stability of the business; accessing unsecured business loans are a proven strategy to smooth cash flow. When a smart business operator can preempt, deal with and prevent late payments, the business will undoubtedly be more profitable, enjoy consistent growth and enable expansion through investment, which ultimately guarantees the business a bright future ahead.