Unsecured Business
Loans
If you are looking to borrow money without providing collateral,
then an unsecured business loan could be the best option for you.
This type of loan is usually easily and quickly approved!
then an unsecured business loan could be the best option for you.
This type of loan is usually easily and quickly approved!
Unsecured business loans
- Up to $250k without security
- From 3 to 24-month term (usually 12-month term)
- Used for any business need
- Minimum of 3 months in business
- Fast approving process
- 24-hours funding
- Rates change from lender to lender
Please use the loan calculator and fill out the contact form. Our Experienced finance brokers will get in touch with you to discuss your needs
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What is an unsecured business loan?
An unsecured business loan gives the opportunity to a business in Australia to borrow funds for business purposes without the need to provide any security. Unsecured business loans are famous for not being guaranteed. Usually, the financial institution appraises the loan application considering monthly cash flow and credit history. Banks are stricter in terms of lending funds than alternative lenders who can to take a higher risk but at the same time offering a higher interest rate. A lower interested is linked to longer terms and to the fact that a secure business loan requires collateral (property, vehicle, machinery, equipment, etc.) to be approved.
Are you eligible for an unsecured business loan?
At Sure Capital, our experienced staff discuss with our clients their needs and assess if they qualify for an unsecured business loan. Eligibility criteria change from lender to lender. At Sure Capital, we work with clients’ best interest in mind. We connect them with the lenders that from our experience, we know can offer the best deal.
The minimum eligibility criteria are:
• Be an Australian Business Australia with an active ABN
• Operating in Australia
• Have an annual turnover of minimum $75,000
• Be in business for a minimum of 3 Months
• Have a good cash flow
• Run a profitable business
• Have a good credit score
(Totally free process – ask about our pre-approvals with no credit checks)
or Call us now at
1300 198 514
What is the timeframe to repay an unsecured business loan?
The nature of an unsecured business loan is a short-term loan. At Sure Capital, we have partnerships with over 50 lenders that offer credit from 3 months up to 36 months. Depending on the interest rate, usually, our clients take a loan for 12-18 months on average.
What is the advantage of an unsecured business loan?
Unfortunately, many business owners in Australia cannot or do not want to provide any collateral when applying for a loan. Unsecured business loans are popular because if for any reasons, the debt cannot be repaid, the financial institution is unable to claim any of the business’s assets. We recommend using an unsecured business loan when the business has an opportunity to expand its activity or to purchase stock, machinery or equipment than can increase the profitability of the business.
(Totally free process – ask about our pre-approvals with no credit checks)
or Call us now 1300 198 514
Any other advantages for an unsecured business loan?
- The application process is easy and fast because it does not require any collateral
- Borrowers can get access to the funds in 24 hours
- Simple to get access to: business cash flow and credit score are the main criteria to get access to unsecured business loans.
- No personal or business security required
- The lender cannot claim any asset in case of failing to repay the loan
- Relationship building with a lender: an unsecured business loan represents a high risk for a lender. After all the repayments have been finalised, the lender could be able to offer a better term to the borrowers.
- Improved business credit score
What are the disadvantages of an unsecured business loan?
- The interest rate is higher than a traditional secured business loan: This is related to the risk that the lender is taking with lending the money. For an unsecured business loan, it is not necessary to provide security. Therefore, the interest rate is higher. We recommend keeping the repayment term as short as possible to reduce the cost of the loan.
- Repayment penalties: If a business wants to repay the debt quicker, in some cases, the lender’s terms and conditions include penalties to the borrowers. The reason for that is straightforward: lenders do not want to lose out on potential interest that they will obtain for the full duration of the unsecured business loan.
- Short term loans: Alternative lenders are willing to take the risk, but usually, they offer short term repayment options.
- Personal guarantees: If you have provided a director’s guarantee as a part of the unsecured business loan you could be held personally liable for the loan repayment.
Why could an unsecured business loan be refused?
Thanks to the strong partnership we have with many lenders, at Sure Capital, we know precisely what their lending criteria is and we use this industry knowledge with our clients’ best interest in mind. We cannot guarantee 100% loan approvals because the final decision rests with the lender, but we strive to find the best suitable solution and in case of refusal, to find an alternative option. From our experience, the most common reasons for refusing an unsecured business loan are:
Poor credit score
Outstanding Debt
Young Business
Weakening Industry
Seasonal Business
Inconsistent Revenue
How to apply for an unsecured business loan?
At Sure Capital, we have developed a one to one approach that allows us in 99% of the cases to get the money in our clients’ bank account within 1 day from the approval. With our network of 50+ business loan providers, we open credit opportunities for your business.
We help you through the process, and we put you in contact with the lender that offers the type and size of business loan that meet your needs. Our partners assist eligible small businesses with unsecured business loans.
Sure Capital is the preferred and trusted finance broker for hundreds of small and medium local businesses in Australia. It all starts with an enquiry. Call us 1300 198 514 or click on “see if you qualify” and we call you back to see if you qualify for an unsecured business loan.
Our lenders usually require a combination of the below as a part of an application:
Business financial statements
Business tax returns & statements
Business bank account statements
(Totally free process – ask about our pre-approvals with no credit checks)
or Call us now