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Small Business Loans
A streamlined, comprehensive finance broking service that ensures your needs are individually addressed, with respect and professionalism to secure a tailored financial solution. We offer small enterprises a comprehensive portfolio of loan products with special options for those with credit issues and for those without all the loan documentation requested by many lenders.
Business Finance works to keep small enterprises in business and beyond.
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Effortlessly Calculate Small Enterprise Loans with Our User-Friendly Calculator
Small Business Loans Calculator
Business Finance makes it easy for our small enterprise customers to budget for major purchases, consider finance options and compare makes and models with our self-serve loan calculators. We’ve provided calculators across our website which can be accessed at the time of day or night that suits you. The commercial loan repayment calculator displays the interest rates we are currently offering across our portfolio in one table. You simply enter the amount of your loan and preferred loan term and the system immediately calculates estimated repayments for the different loans. The Car, Truck and Equipment Calculators have an additional feature, the provision for a balloon or residual in the calculations. Simply enter the data around your loan to see the repayment estimates. Vary the amounts to plan how you would like your loan structured. Head to the calculator now to start generating repayment estimates on your enterprise requirements.
This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
Customised Secured Loan Products
Secured Commercial Loan Products for Small Enterprise
Secured loans are for assets, property and goods which can be used as security against the loan. We source the cheapest secured loans for small businesses to acquire a wide range of commercial equipment and assets including:-
- Commercial Car Loans, which cover finance for all kinds of vehicles used primarily by the entity. These include utes, cab chassis, sedans, passenger cars, wagons, light commercial vans, SUVs, hatches and others from all manufacturers. Loans are available for petrol, diesel and electric vehicles with a choice of finance facility.
- Equipment Finance offered by Business Finance is available for the purchase of an extensive range of machinery and equipment used in all industry sectors. This includes construction and earthmoving machinery, manufacturing and engineering, medical and dental, computer hardware and software, retail and office fit-outs, fixtures and fittings, agricultural and farming machinery, gym and fitness, health and beauty, general business office equipment and many more.
- Truck Loans are sourced at the cheapest interest rates and with minimal time and effort required by our customers. We understand that many truck owners are sole traders, owner-drivers and small business owners that have neither the time nor the patience in many cases, to deal with multiple banks and lenders to get quotes. Your specialist finance broker handles the entire truck loan process, sourcing quotes from our vast lender panel, guiding you through the application approval process, negotiating terms and conditions, and ensuring a smooth settlement, while you focus on running your enterprise. Find out more about the trucks we finance and the loan products we offer for small enterprise.
- Commercial Property Finance is available for the purchase of the business premises, for property investment and for development projects. This area of finance can be complex, with rates, terms, conditions and even the availability of lenders, fluctuating in response to changes in the market. With our expertise and industry-only finance channels, we assist even enterprises of all types and sizes to secure highly competitive finance.
Explore the Variety of Secured Loan Products for Small Enterprises
Secured Loan Product Types for Small Enterprise
A range of secured loan types, referred to as commercial finance facilities, are available for the purchase of commercial assets including cars, trucks, equipment and machinery. These loan types vary in the treatment of GST and tax deductions, their suitability to either the cash or the accruals method of accounting, whether lender or borrower retains ownership over the finance term and other aspects. The interest rates also vary. Sourcing the most appropriate type of loan for individual businesses can be key to achieving financial objectives.
Business Finance offers are small enterprise clients a comprehensive portfolio, including:-
- Chattel Mortgage for Enterprises is referred to by some banks and lenders as Equipment Loan or Motor Vehicle Loan. This loan type is extremely versatile, suits many asset acquisitions and attracts the lowest interest rate of the range of secured commercial loans. Contact us for a Chattel Mortgage quote or use our calculator for estimates.
- Leasing is an off-balance sheet finance facility as the lender retains ownership of the asset over the term of the loan. This is seen as improving the balance sheet of the borrower and an appealing option for many small enterprise owners. Business Finance provides cheap interest rate Leasing for cars, motor vehicles, trucks and all kinds of commercial equipment. Refer to our interest rate calculator to see how leasing repayment estimates compare with our other loan products.
- Rent to Own Commercial Finance is also referred to as Truck Rental or Equipment Rental. It is a type of loan and not the same as hiring equipment or vehicles. Used primarily for trucks and equipment purchases, Rent to Own offers enterprises full use of the asset while ownership remains held by the lender. The interest rate is higher than for other loan types but the tax deduction and other benefits offered to make this type of loan attractive to many businesses. Explore the features and benefits to decide if this is the right loan type for your business.
- Commercial Hire Purchase for Enterprises is a loan product that is versatile and can be used for a wide range of business equipment, cars and vehicles. Despite the implications of the name, this is a finance product and typically attracts a similar interest rate to Chattel Mortgage. Review the features of CHP and discuss with your accountant the suitability for your purchase.
Secure Growth without Collateral
Unsecured Small Business Loans
Unsecured commercial loans are for purposes where it is not possible to offer the ‘purchase’ or ‘purpose’ as security against the finance. In simple terms, purchases other than assets and property such as cars, trucks, machinery and equipment. Purposes may include training and development, purchasing stock to sell, non-asset goods, marketing and commercial development campaigns, consultant and professional services and broad-based capital injection. These types of loans can be especially difficult for small enterprise to acquire so working through a specialist broker can ease many of the issues and deliver a cheap interest rate loan. Read more and check our latest interest rates on Unsecured Loans.
Quick and Easy Funding
No Doc Small Business Loans
No Doc or No Docs small business loans refer to the documents or financial accounts and records which are requested by lenders as part of a business loan application. Docs may be BAS records, income tax returns, profit and loss statements, annual business accounts and other types of financials. Business Finance fully appreciates that many small enterprises, especially in the start-up phases, simply do not have this type of records. You might be just setting up a new business or have only been operational for a short time. This can be one of the major obstacles to securing cost-effective finance for small businesses. While most banks have strict criteria in regard to docs and don’t offer any docs loans, our specialist brokers have connections with lenders that do! Using our professional expertise and contacts provides small business operators with realistic pathways to no doc loans where only a current ABN and ID is the minimum application criteria. Speak with one of our consultants about your requirements.
Flexible Financing for Small Businesses
Low Doc Small Business Loans
Low Doc Small Business Loans is the finance sector’s term for documents or documentation and refers specifically to the business financial records. Banks in particular have strict criteria for loans and rarely budge on their requirements. For small enterprises that are in the early stages of operations or just starting out, they may not have had the time to amass the level of financial records required to meet these loan criteria. The difference between low doc and no doc loans is the amount and quality of the docs provided. These may be income tax returns, BAS returns, annual accounts or even simply prepared income and expenses spreadsheets validated with bank statements. Our specialist brokers can achieve Low Doc Loans through our specialist non-bank lenders for the purchase of cars, trucks, vehicles and all types of commercial equipment. We handle all the arrangements including negotiations and liaison with the lender to save you time and no doubt a lot of potential frustration in sourcing the finance you need for your business. Contact us to discuss the options we can offer for your venture needs.
Expert Finance Solutions
Bad Credit Small Business Finance
Credit issues can happen to anyone or any business for many reasons and when it happens to your small enterprise, it can be a nightmare trying to secure finance. The key to achieving bad credit commercial loans at affordable interest rates and under workable terms and conditions is engaging the services of a highly experienced commercial finance broker. We not only have connections with a multitude of non-bank lenders that offer this type of finance, but we also have the expertise to negotiate deals to work with individual enterprise needs and objectives. Confidential initial discussions are freely available with our brokers. Simply give us a call or request a quote online.
Competitive Commercial Loan Interest Rates
Small Business Loans Interest Rates
We believe that the size of your enterprise should not affect the size of your interest rate. We can achieve the same cheap interest rates for small enterprise operators as we do for large corporations. We fully appreciate that many small enterprises have solid venture performance records, have traded over a long period, have established a good credit profile and meet the eligibility criteria for cheap interest rate loans. We achieve cheap interest rates across our portfolio as we have a large lender panel which means more choice, connections with flexible non-bank lenders as well as major banks and the bargaining power to negotiate on behalf of our clients. Interest rates vary across different types of loans with Chattel Mortgage and CHP typically attracting the lowest commercial loan interest rates. Refer to our loan comparison calculator to see the rates we are currently achieving and contact us for a quote on your loan requirements.
Empowering Small Enterprises with Financial Solutions in Australia
Small Business Finance in Australia
Despite being regularly acknowledged by policymakers and others as the ‘engine room’ of the Australian economy, small businesses continually face challenges in acquiring finance. Difficulties and obstacles in securing the loans they need to survive and thrive, to grow and prosper and to develop and implement innovative new goods and services.
Defined the Australian Bureau of Statistics as having less than 20 employees and by the ATO as having a turnover of less than $10m, there are over 2.3 million small enterprises in Australia covering a wide range of industry sectors.
Regardless of size, most businesses will at some time require finance to support their operations to meet peak performance, to realise optimum efficiency, to improve productivity and most importantly to increase profitability. Whether it’s for the acquisition of assets, as cash flow support or to invest in business growth opportunities.
We appreciate the significance of small enterprise and provides specialised finance sourcing and structuring services to assist enterprise owners to overcome the obstacles to finance and achieve cost-effective loans at the cheapest interest rates commercial loans.
FAQs
Small Business Loans
Yes. Sole traders and self-employed operators are eligible to apply for credit as a small operator. A number of set-up structures are included in the definition of small enterprises. These include self-employed, micro operations, partnerships, sole traders and companies.
The same selection of credit products is available for small and medium enterprises as for all commercial operators. These include asset acquisition options of Chattel Mortgage, Leasing, Rent to Own and Commercial Hire Purchase; as well as secured and unsecured options.
No. The interest rate offered on all commercial credit applications is based on an individual lender assessment of the inclusions in the application. The rate will be determined by the credit rating, financials, strength of cash flow and turnover, amount requested, industry, amongst other factors. Where a small operator has a good credit profile, strong financials and trading history, a lower, competitive interest rate is a realistic possibility.
Yes. Partnerships would be considered as a small-medium enterprise. Trucks can be acquired with the choice of Chattel Mortgage, Rent to Own, Leasing or Commercial Hire Purchase.
New motor vehicles including cars, vans, utes etc may be purchased with the operator’s choice of credit product. These include Vehicle Lease, Chattel Mortgage and Hire Purchase. Operators are encouraged to speak with their accountant as to which product is most suitable for their operation.
The interest rate on credit products for small and medium enterprises is determined by an assessment of the application by lenders. Rates will vary depending on the credit profile, strength of financials and other factors. Competitive rates are achievable for many small operators. Operators may use lender advertised rates as a guide for planning purposes.
When applying for commercial credit, lenders request a range of documentation around the status and trading history of the operation. Where an enterprise has not been operating long enough to acquire the full documentation, Low Doc and No Doc options may be sought. Some lenders may also assess applications for some products based primarily on turnover for as little as the past 6 months.
Yes. Once approved for a particular credit product, small enterprises may be entitled to realise the applicable tax benefits. Subject to meeting ATO criteria. The benefits vary with credit products in regard to what outlays are tax deductible.
The credit term approved for small enterprises is based on lender assessment of the application. The decision may include consideration of the age and condition of the goods, the amount requested, the lender’s individual guidelines and other factors. For some commercial credit products, terms of up to 7 years or 84 months are achievable.
Yes. Pre-approved motor vehicle credit is available through most banks and lenders. The application is submitted, or quote requested, based on an estimate of the amount required and an indication of the vehicle being purchased. Rates and conditions may vary with used versus new vehicles. So it is important to give an indication of what car is intended to be purchased.
Approval times of applications for small and medium enterprise credit may vary across the lender market. Banks and lenders will have their own procedures for approvals and these may entail varying timeframes. Some brokers and lenders can get approvals within 24 hours. Once approved, the final paperwork needs to be completed for settlement. This may also only take a few days. If requiring fast turnaround, this should be mentioned on submitting the application.
Yes. When approved for credit, small operators are entitled to all the features of that credit product. That includes a balloon for Chattel Mortgage and residual for Leasing. The amount of the balloon is subject to individual lender approval.
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