Accrutus Unsecured Business Loan

Expand your small business or make essential trading purchases with an unsecured business loan from Accrutus.

This loan is designed with smaller and newer Australian businesses in mind. All you need to be eligible is to show that your business has been trading for at least nine months. Many lenders are less than eager to lend large sums of money to small start-ups, so Accrutus is a lender to consider if you are having trouble getting capital for daily business operations.

How do the loans work?

As long as your business has been trading for nine months or more, you can apply for this loan through the Accrutus website. Loan amounts start at $10,000 and go right up to $200,000. There is no need to provide financial statements for loans under $70,000.

The loans are short term, the minimum being 3 months and the maximum 18 months. You can make daily, weekly or monthly repayments that can be tailored to your business cash flow. Once your loan is approved, you can expect the funds to be deposited in your nominated bank account within two to five business days.

Features of the Accrutus unsecured business loan

Features of this loan include the following:

  • Short loan terms. The loan terms are 3 to 18 months, so you won’t have a long loan term hanging over your head as your business grows.
  • Large borrowing amounts. You can borrow a minimum of $10,000 and a maximum of $200,000.
  • Unsecured. This type of loan is unsecured which means you don’t have to put down any assets that you own as collateral if you are unable to pay the loan.
  • Straightforward process. All the information you need in order to apply can be found on the Accrutus website in easy-to-read dot points. This makes it easy to assess whether this loan is right for you and your business before you apply.
  • Early repayments. There are flexible funding solutions in place that allow you to pay back the loan early if you are able and wish to do so.
  • Variety of lending partners. As Accrutus is a facilitator that acts between you and the lending partners, it gives you access to a wide range of lenders that will take a chance on your small business.
  • Varying interest rate. Before applying an interest rate to your loan, Accrutus takes into consideration the industry your business is in, your current sales turnover, your credit score, the amount you wish to borrow and your loan term. However, rates are typically between 1–3% per month.
  • Ideal for small businesses. Your business has to have been trading for at least nine months, but this unsecured capital is ideal for business owners who have big ideas but not enough capital to help them get there.

How much does the loan cost?

Once you are approved for the loan, some of the fees you can expect to be charged include:

  • A monthly account-keeping fee. This is a set fee charged monthly to your nominated bank account.
  • An establishment fee. This is charged when your loan is approved.
  • A direct debit dishonour fee. If Accrutus tries to take out funds they are owed but find they are unavailable, it will charge a dishonour fee.

All the fees you will be expected to pay will be outlined in your loan approval statement.

How to apply for this loan.

The eligibility criteria that you need to meet for this loan includes:

  • Solid evidence of business trading over the last six months, such as profit and loss statements.
  • Proof of where your business premises are situated, as well as details of the leasing agent if you have one.
  • Six months of recent business bank statements.
  • Financial evidence for business deals above $70,000.
  • Evidence of any outstanding overdraft and other loans.
  • Evidence of any paid defaults.
  • 100 points of ID, which can include your driver licence and Medicare card.

Some of the documents you need to provide are:

  • Your Australian driver licence.
  • Business financial information such as evidence of trading, your Australian Business Number (ABN) or Australian Company Number (ACN), plus six months of business bank statements so Accrutus can assess your assets and liabilities situation.

An Accrutus unsecured business loan is ideal if you need capital for building your smaller-sized company. Compare other business loans as well to ensure you choose one that best meets your business needs.

Comparison of other business loans

Whilst we don't directly compare Accrutus Unsecured Business Loan, compare other business loans offering similar features.

Rates last updated November 15th, 2018
Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
NAB QuickBiz Loan
1 to 3 years
Apply for up to $100,000 and get a response within 60 seconds. No upfront or ongoing fees and a transparent fixed rate.
Lending Express Business Loans
0.25 to 2 years
Apply online for up to $500,000 and get access to over 25 lenders through Lending Express.
Valiant Finance Business Loan Broker
0.25 to 5 years
A Small Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 60 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
Note: If you apply and have your loan settled in November 2018, you will recieve $250 cash-back.
Moula Business Loan
0.5 to 2 years
A loan of up to $250,000 that can be approved and funded within 24 hours. Available to businesses with 6+ months operating history and $5,000+ monthly sales.
Spotcap Loans
0.25 to 2 years
Benefit from a fixed interest rate and no upfront fees with a loan available up to $400,000. Must have been operating for at least 18 months and have turnover over $200,000.
GetCapital Flexible Business Loan
0.5 to 2 years
Initial draw down fee
A flexible business loan up to $500,000 with convenient top up and redraw facilities. Business must have been operating for 9 months+ and have monthly sales of $10,000+ Flexible Business Loan
0.5 to 2 years
Initial draw down fee
A business loan up to $100,000 for unsecured loans, or $500,000 for secured loans that you can use for any business purpose. Transparent costs and redraw facility available.
OnDeck Business Loans
0.5 to 2 years
2.5% origination fee
Apply for up to $250,000 and receive your approved funds in one business day. Minimum annual turnover of $100,000 and 1 year of trading history required.
ANZ Unsecured Business Loan
15 years
You can choose a fixed or variable interest rate
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.

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