Unsecured Business Loans
Common Questions
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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 been in business for at least four months and you can demonstrate you can repay the loan we can usually help out. Click Here to see how much you qualify for.
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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 $5,000,000 depending on the size and trading history of your business. We also provide Lines of Credit up to $750.000. Click Here to see how much you can borrow.
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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 gives you the power to drive your business forward and stimulate growth like never before. We offer quick and easy access to cash flow and working capital whenever needed and flexible repayment terms tailored to your business. 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 business purpose, you may want to:
*Expand or renovate your business,
*Buy new equipment, stock or inventory,
*Pay overheads, wages or tax.,
*Do some promotion and marketing,
*Hire new employees
*Or for cash flow and growth.
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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?
We pride ourselves on providing super-fast approval and settlement. Applications for Fast and Small Business Loans can be approved within 3 hours and funded that day. Our other solutions can be issued in as little 24 hours.
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What type of loans do you offer?
What if I only need a business loan for a few weeks?
We specialise in providing fast and flexible business loans to small and medium-sized businesses. Our solutions include Fast Business Loans, Small Business Loans, Secured Business Loans, Bridging Finance and Lines of Credit. Our loan sizes vary from $5,000 to $5,000,000 and Lines of Credit are available up to $750,000.
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Then we can help out. We tailor our loans to your needs and circumstances. Our business loans are a flexible solution to bridge cash flow gaps, make quick purchases, or address other short-term financial requirements.
We understand that businesses sometimes need short-term financial support, which is why we offer business loans with varying terms. If you know that you will only need a loan for a brief period, just let us know, and we can structure your loan accordingly. Businesses who qualify for our Bridging Loans can receive up to 65% off our standard rates.
What if I have bad credit or other debt?
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No issues. We look at your business on the whole to assess creditworthiness. We have high approval rates and can provide funding to most healthy businesses.
We can approve your loan in as little as 3 hours and you can have the funds in your account within 24 hours, as long as you provide us with accurate and complete information.
What financials do I need to provide?
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We require your past six months bank statements and your most recent financial statements. Providing us with up to date and accurate information will expediate the loan process and allow you to receive your funding quickly.
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What is the interest rate?
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The interest charged is determined by a factor rate, which is a fixed fee that is applied over the term of the business loan. The factor rate applied to your loan takes into account your business’s creditworthiness, the duration of the loan and the intended use of the funds and therefore varies from one business to the next.
As you build a relationship with the lender, demonstrating your ability to reliably and punctually pay off your loan, the factor rate will likely decrease.
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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 structure and trading history.
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Can I get additional funding after the initial loan?
Yes you can. We provide loan top ups, refinancing and increases and Lines of Credit.
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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. Unlike other lenders, we won’t penalise you for settling your loan early, if that’s what you choose to do. Instead, we’ll reward you for paying it off early, by giving you a discount.
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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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We can make an initial offer without running a credit check, which makes applying for a loan completely risk-free. Only once you decide to proceed with the loan do we run a hard inquiry to make the offer unconditional. If you’d like to find out how much your business would be eligible for, apply now for an obligation-free offer.
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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. An establishment fee is charged on the loan, which is agreed upon upfront. 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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