Banjo Business Loans

Enjoy a quick online application and disbursal of funds with Banjo Loans and keep your small business moving.

If your small business is in need of financing, you may want to consider what’s on offer from Banjo Loans. You can apply online using a simple application and you’ll find out if you’ve been approved in a few hours. Your business goals are taken into account as part of the application, and also during your loan term, which is why you can apply for further funds as needed.

Product NameBanjo Business Loans
Min Loan Amount$20,000
Max. Loan Amount$250,000
Loan SecurityUnsecured
Application Fee$0
Loan Term6 months
Requirements

  • Annual turnover of $200,000+

  • 3 months of bank statements and an active ABN

How does a loan from Banjo work?

Applying for financing through Banjo Loans involves you filling out a simple online form. As part of the process you’ll need to provide various key details, including your accounting information, which can help you be approved for a loan.

If you’re approved, you’ll receive the funds within 72 hours. You can then manage your loan using the Banjo dashboard.

What features does Banjo Loans offer?

The features of Banjo’s small business loan include:

      • Receive your funds quickly. If approved, you should receive your funds within 24 to 72 hours.
      • Generous loan amount. You can borrow up to $250,000, making it suitable for a range of small business needs.
      • Repayment options. Choose to make your repayments weekly, fortnightly or monthly.
      • Flexible lending criteria. Banjo performs credit analysis and determine an interest rate that reflects the health and quality of the business and the purpose of the loan. Banjo also do not require any security over personal assets.
      • Account management. You’re able to manage your account using the customised Banjo dashboard. You can also use this to view your account history and apply for another loan.

      Is there anything to consider before applying?

      As larger loan amounts are on offer, it’s important to only apply for as much as your business needs. You will receive a full list of fees and a rate when you apply. Be sure to review these carefully to ensure your business can afford the loan.

      How you can apply for a Banjo Loan

      Applying for a Banjo Loan is easy, and to get started you can click “Go to Site”. The following eligibility criteria will need to be met:

      • You have a registered Australian business
      • The business is at least two years old and has an annual turnover of $200,000 or more
      • You can provide three months of bank statements

      If you meet the above criteria you are eligible to apply. Make sure you have these on hand to complete the online application:

      • Your ABN or ACN
      • Identification details for the directors
      • Your driver’s licence and a photograph
      • The business’ accounting information and banking details

      Banjo loans offers a flexible solution for small businesses to consider, but as there are many financing options on the market, make sure to compare your options before you apply.

      Comparison of other business loans

      Whilst we don't directly compare Banjo Business Loans, compare other business loans offering similar features.

      Rates last updated October 20th, 2018
      Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
      NAB QuickBiz Loan
      $5,000
      $100,000
      1 to 3 years
      $0
      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
      $5,000
      $500,000
      0.25 to 2 years
      $0
      Apply online for up to $500,000 and get access to over 25 lenders through Lending Express.
      Valiant Finance Business Loan Broker
      $5,000
      $1,000,000
      0.25 to 5 years
      $0
      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.
      Moula Business Loan
      $5,000
      $250,000
      0.5 to 2 years
      $0
      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
      $10,000
      $400,000
      0.25 to 2 years
      $0
      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
      $5,000
      $500,000
      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+
      businessloans.com.au Flexible Business Loan
      $5,000
      $500,000
      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.
      Prospa Business Loan
      $5,000
      $250,000
      0.25 to 2 years
      $0
      A business loan available up to $250,000 that can be funded in 1 business day. Must have a turnover of $6,000+ per month and provide 6 months of trading history, 3 months history for existing business purchases.
      OnDeck Business Loans
      $10,000
      $250,000
      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.

      Compare up to 4 providers

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