Unsecured Business Loans
Common Questions
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Lets Go!
How do your unsecured business loans work?
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Our unsecured business loans are based on the trading strength of your business. We look at your cash flow to determine the amount you can borrow. Learn More
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Is my business eligible for an unsecured business loan
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If your business has a good trading history, you have a good credit history and you can demonstrate you can repay the loan we can usually help out. Click the link on this page to see if your business qualifies.
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How much can I borrow?
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You can borrow as little as $5,000 and as much as $250,000. We can also arrange a loan for more than $250,000 depending on the trading history of your business.
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Do I have to have/use property or other security to get the loan?
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An unsecured business loan from Business Loans Now allows you to continue to grow your business at those crucial times. Learn More
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Why should I get a business loan through Business Loans Now?
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You do not need to provide security to be approved for our unsecured business loans. We base our lending criteria on the trading history of your business.
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What can I use my business loan for?
Any worthwhile business purpose. You may want to expand your business, buy new equipment, pay overheads, pay wages or debts.
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We can approve your loan within 24 hours if you are able to provide the required financials.
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How long does it take to get approved?
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How long does it take to get the funds?
For loans up to $50K - 24 hours
Loans from $50K - $100K 2 - 3 days
Loans above $100K 3 - 5 days
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What financials do I need to provide?
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For loans between $5,000 and $50,000 we require 3 months bank statements. For loans between $50,000 and $250,000 we require 3 - 6 months bank statements and your most recent financials.
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What is the interest rate?
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The interest rate of your loan depends on the strength of your business and your cash flow. The interest rate range is usually 15% - 25%.
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How do the loan repayments work?
We provide flexible repayment options including daily and weekly repayment options that are tailored to your business.
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Can I get additional funding after the initial loan?
Yes you can. We provide loan top ups, re loans and increases.
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What happens if I pay the loan out early?
You can certainly pay your loan out early and there are no additional costs or charges for doing so.
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What happens after I make a business loan enquiry with Business Loans Now?
You will be contacted by a business loan consultant who will explain our business loans further, discuss your loan requirements, explain the best options for your business and take an application if you wish to proceed.
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How do I improve my chances of being approved?
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All you need do is provide up to date and clear financial statements when requested to do so.
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Will a credit enquiry be listed on my credit file?
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Yes, as part of our loan assessment process a credit check will be done on yourself and any other applicant. However this will only be done after your loan is conditionally approved.
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Are there any other additional costs, fees or charges associated with my business loan?
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At Business Loans Now we believe in total transparency in our loan process. There are no additional costs, fees or charges associated with our business loans. The rate you pay is an all inclusive rate that includes all charges, there are no additional costs. Learn More
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