Compare Business Loans from 40+ Lenders

Borrowing secured against a physical asset — equipment, vehicles, machinery or technology. The asset itself is usually the collateral, so rates are typically sharper than unsecured options.

The bread-and-butter of commercial lending — a lump sum repaid over a fixed period for virtually any business purpose. Secured or unsecured.

Convert unpaid invoices into immediate cash. If you're waiting 30–90 days for customers to pay while your own bills are due now, invoice finance closes the gap.

Revolving facilities — draw what you need when you need it, and only pay interest on what's outstanding. Best for managing lumpy cash flow or unexpected expenses.

Letters of credit, bank guarantees and supply chain finance for businesses that buy or sell goods internationally.

Repaid as a percentage of daily card sales rather than fixed monthly instalments. Fast, but the equivalent interest cost is high. Best for retail and hospitality with strong card volumes.

Roll multiple business facilities into one — ideally at a lower rate with a single repayment to reduce total cost and improve cash flow visibility.

Low doc, startup and bad credit business loans for situations the mainstream lenders won't touch on standard terms.

1. What's the money for?

Asset purchases point to asset finance. Working capital gaps point to overdrafts or lines of credit. Invoice delays point to invoice finance. Growth projects point to term loans. Confusing these categories is how businesses end up with the wrong product.

2. How long do you need it for?

Short-term (under 12 months): overdraft, merchant cash advance, invoice finance. Medium-term (1–5 years): equipment finance, business car loans, standard term loans. Long-term (5–20 years): secured term loans backed by property, heavy machinery finance.

3. What security can you offer?

Property security unlocks the lowest rates and highest limits. Equipment or vehicle security gives competitive mid-tier rates. No security means higher rates but faster access. Be honest about what you're comfortable pledging.

4. What does your cash flow actually look like?

Monthly fixed repayments suit stable, predictable revenue. Flexible repayment structures suit seasonal or project-based businesses. Don't stretch your repayment schedule to minimise monthly outgoings — that often maximises total interest paid.

Business requirements

• Active ABN/ACN registered with the ATO.
• Trading history — most lenders require 12+ months. Better rates and larger facilities typically need 2–3 years. Some fintech lenders accept 6 months.
• GST registration — required by most lenders for facilities above $75,000.
• Industry — gambling, adult entertainment, speculative investments and similar face restrictions or exclusions.
• Australian operations — your business must operate in Australia.

Financial requirements

• Revenue — some lenders start at $75,000 annual turnover; others require $200,000+ for certain products.
• Profitability — not always required; lenders want to see a credible path to serviceability.
• Tax compliance — ATO debt limits options. The general interest charge is currently 10.65% p.a. and is no longer tax-deductible from 1 July 2025.
• Credit history — directors' personal credit is assessed alongside business credit. Defaults don't always disqualify — specialist lenders exist.

Business financial statements

2 years of profit and loss and balance sheet, prepared by your accountant if available.

BAS statements

6–12 months of Business Activity Statements.

Bank statements

3–6 months of business bank account statements.

Photo ID

For all directors and any personal guarantors.

Business plan

Typically required for startups, or for larger facilities where trading history is limited.

Asset details

For secured lending: valuations, registration documents, insurance certificates.

ATO portal access or tax returns

To verify tax compliance and income.

Debt serviceability

Monthly repayments reduce cash flow. If your revenue drops, those obligations don't shrink with it. Model your worst-case scenario before signing.

Secured lending risk

Pledging property or equipment as collateral means default can result in losing those assets. Understand exactly what you're putting on the line.

Rate environment risk

The RBA is at 4.35% and trending upward in 2026. Variable-rate loans pass increases through — budget for potential rate rises if you're on a variable facility.

Fee load

Application fees (0–6%), ongoing fees ($0–$30/month), early repayment fees ($0–$450+) and brokerage fees (3–8%) can add substantially to total cost. Always check the comparison rate.

Personal guarantees

Directors who guarantee a business loan are personally exposed. Personal assets — including property and savings — can be at risk if the business defaults.

Over-leveraging

Taking on more debt than the business can service across multiple facilities is the single biggest cause of SME financial distress. Be conservative with projections.

Opportunity cost

Money directed to loan repayments can't be invested in staff, inventory, marketing or growth. Borrowing should be intentional.

Factor rate confusion

Some short-term lenders quote factor rates (e.g. 1.15x) rather than APR. A factor rate of 1.15 on a 6-month loan is roughly 30%+ p.a. — make sure you're comparing apples with apples.

Banks (Big Four + Regional)

ANZ, CBA, NAB, Westpac and the regional banks remain the benchmark for competitive rates on secured lending. Trade-off: 1–4 weeks for approval, stricter docs, less flexibility for newer or irregular businesses.

Best for: Established businesses with 2+ years trading, strong financials and property security.

Online and Fintech Lenders

Prospa, Moula, GetCapital, Lumi and Capify offer fast approval (24–48 hours), less paperwork and more flexible criteria for newer businesses.

Best for: Businesses needing speed, newer businesses, those without property security.

Specialist and Non-Bank Lenders

Deep expertise in specific industries (construction, healthcare, agriculture) or product types (invoice finance, heavy machinery). Can structure deals banks won't touch.

Best for: Industry-specific needs, complex structures, businesses that don't fit standard bank criteria.

Bad Credit Lenders

Specialist lenders for businesses with defaults, judgments or thin credit files. Access comes at a cost — rates above 20% p.a. are common, terms are typically shorter.

Best for: Businesses actively rebuilding credit that need working capital now.