Unsecured Business Loans

A great way for small business owners to borrow money without providing collateral

Unsecured Business Loan Summary

Unsecured business loans are loans provided for a fixed period of time that are not backed by property, equipment or another form of collateral.

Because they are not secured by collateral, unsecured business loans are supported in another way, often by business cash flows in combination with the borrower’s creditworthiness.

Advantages

  • A set payment structure
  • Limited paperwork
  • You can get an unsecured loan even if you have bad credit
  • Suitable for a wide range of purposes

Disadvantages

  • Higher rates than longer-term loans
  • Daily or weekly payments can prove difficult for some businesses
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1300 898 765
Unsure how much you can borrow?
Try our business loan calculators
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Unsecured Loan Calculator

  • Borrow without risking property / assets

  • Loan terms of 3-12 months

  • Security needed for longer borrowing

  • No personal guarantees required

How much do you need?

Over how many months?

Based on your answers,

Your estimated weekly repayments are: $1,498 / week

Apply now

Prefer to talk to a business loans expert?
Call us on 1300 898 765

  • Borrow with the certainty of fixed repayments

  • Loan terms of 1 to 20 years

  • Monthly repayments

  • Secured & unsecured options available

How much do you want to borrow?

Interest Rate

Over How many years?

Based on your answers,

Monthly Repayments $9,666

Total Repayments $579,960

Interest Costs $79,960

Apply now

Prefer to talk to a business loans expert?
Call us on 1300 898 765

  • No deposit options available

  • Rates from 4.09%

  • Loans from 1 - 10 years

  • Low Doc options available for business owners

What is your vehicle/equipment cost?

Interest Rate

Over how many years?

Based on your answers,

Monthly Repayments: $1,473

Total Repayments: $88,399

Interest Costs: $8,399

Apply now

Prefer to talk to a business loans expert?
Call us on 1300 898 765

Invoice Finance Calculator

  • Loans against your outstanding invoices

  • Undisclosed options available

  • Rates from 0.5% per month

  • Same-day approvals

Outstanding Receivables

Advance Rate

Based on your answers,

Receive up front: $480,000

90 days interest costs:

Minimum $14,400

Maximum $21,600

Apply now

Prefer to talk to a business loans expert?
Call us on 1300 898 765

How do Unsecured Business Loans work?

Most unsecured business loans are short-term. They are short-term due to the fact that they carry more risk to the lenders.

Short-term unsecured loans often come with factor rates instead of interest rates. A factor rate is a number that, when multiplied by your total loan amount, tells you how much you need to pay back the lender. It’s expressed as a figure such as 1.15. So, if your loan is for $100,000 and your factor rate is 1.15, you need to pay $115,000.

In addition, short-term unsecured business loans often have either weekly or daily repayments. Breaking repayments down into smaller amounts can make it easier to manage your cash flow.

Because of the need for daily or weekly repayments, short-term unsecured business loans are best suited to businesses that have a stable and regular revenue.

Here is an example of how an unsecured loan could work for you:

An unsecured loan example

Documents required for unsecured loan applications

Loans less than $50,000

  • Your driver’s licence
  • Your ABN
  • Three months of bank statements

 

Loans greater than $50,000

  • The same documents as needed for less than $50,000, plus:
  • A P&L (profit & loss) statement
  • A list of assets and liabilities

 

Do you qualify?

If you do not fit in to the qualification criteria, you may still qualify for a different type of business loan. Use Funding Pro’s online prequalification tool to find out what types of business loans you are eligible for.

Qualification criteria

  • Trading for a minimum of 6 months
  • Revenues of at least $5,000 per month

We cannot assist

  • Start-up businesses
  • Businesses with less than $5,000 in monthly revenue

Apply for Unsecured Finance

Get the lowest rates on an Unsecured Business Loan

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Explore more business loan options

Looking for more options?
See our complete range of loans

FAQs

We have answered some common questions from clients below.

  • What will my interest rate be?

    Your interest rate will depend on the term of your loan and your business trading history.

    For an indication of current rates, please see the table below.

    Loan PurposeInterest Rates From
    Unsecured Cashflow0.75% / Month
    Invoice Discounting / Factoring0.5% / Month
    Vehicle / Equipment Finance4.09% / Year
    Property Finance3.69% / Year
    OtherPlease Enquire

     

  • Who are your lenders?

    FundingPro have partnered with more than 70 lenders, both banks and non-bank specialist lenders. We carefully screen all lenders before adding them to our panel to ensure we only work with lenders that abide by responsible lending practices.

  • Will applying online affect my credit report?

    Making an online loan enquiry will not impact your credit report. If you decide to proceed with a full loan application lenders may require us to provide them with a copy of your credit report.

  • What does it cost to apply?

    Applying is free. If you take out a loan we will be paid a commission directly from the lender.

  • Do I qualify for a loan?

    We offer both mortgages & business loans, and the qualification criteria is based on the following:

    • Can you afford to make the repayments
    • Do you have enough security
    • Your credit history

    Most individuals & businesses will qualify for a loan. Your individual circumstances what type of loan, the rate you pay and how much you can borrow. To find out how much you qualify for, fill out an online loan enquiry.

Have a question for our loan experts?
Call us on 1300 898 765

Find your ideal loan

It’s free and it won’t affect your credit score

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