Compare Business Loans

Where in Australia can I get a business loan?

No matter where in Australia you're looking for business finance, there are loan options available. Take a look at the map below to see what some of your options could be.

• WA
• NT
• SA
• TAS
• QLD
• NSW
• VIC
• ACT

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Other questions you may have

What should I avoid when applying for a business loan?

There are a number of mistakes that applicants make when applying for a business loan, from choosing the wrong loan option to submitting an incomplete application. You should always understand what you'll need to provide to the lender before beginning your application.

See the common mistakes to avoid when applying for a business loan

Why was my application rejected?

There are a number of reasons why a lender may reject a business loan application. It is important to ask for feedback from your lender if they do reject your application. This feedback will give you insight into what you did wrong, which you can improve on for the next time you apply. If the lender is unable to provide this feedback, you may want to review your application and see if you can spot any red flags yourself.

Read our guide on why your business loan application may have been rejected

Is my personal credit file checked or my company credit file?

The lender will specify which credit history they will need to check, but generally, the lender will want to verify the company directors' credit histories. Your business's financials may also be checked using accounting information that you connect as part of the application process.

Read the guide on business loans and your credit file

What other business financing options are available?

Business finance is split into two main categories: debt finance and equity finance. Equity finance is provided by an owner or an external investor, whereas debt finance is provided by a bank, credit union or business lender. Below, you can find out more information about the different types of short-term and long-term business debt finance that are available.

Business line of credit

You have a set limit and can use up to that limit when you need to. Repayments are flexible as long as you keep the account in good standing.

• Draw on an account balance up to an approved limit
• Line of credits can be secured or unsecured, and more non-traditional lenders are starting to offer them

• Interest is usually charged monthly and repayments include interest plus fees

Short-term business loan

You can get funds that you are required to pay over a set term, which is usually between 3 and 12 months.

• Repay what you owe quickly
• Repayments are usually daily or weekly to mitigate the impact on a business's cash flow

• Interest may be charged on the principal or the outstanding amount depending on the lender, and fees may apply

Credit card

This works just like a personal credit card except it's for business expenses, and you can add multiple additional cardholders.

• Opt for personal or business credit cards to fund your business's immediate cash flow needs
• Benefit from interest-free days, rewards and additional cardholders

• Interest can range from 8-20% if balance is not paid back monthly

Invoice financing

If you have outstanding invoices and you need them to be paid, you can sell them to an invoice financing company and receive what you're owed minus a fee.

• Use your outstanding invoices as finance
• Receive up to 85% of the invoice amount and choose which invoices you want to finance

• You'll need to pay a percentage of the invoice amount

Business vehicle finance

This is a secured loan available for businesses of all sizes with leases also being available.

• Various types are available to sole traders as well as small and medium-sized businesses
• Depending on the cost of the car and how it's used, there are tax benefits available

• Repayment terms vary depending on the type of finance selected but competitive rates are on offer if the loan is secured

Equipment finance

There are various options available to let you purchase or lease equipment.

• Options include commercial loans, equipment hire purchases, finance leases and novated leases
• Have your choice of purchase or lease depending on your business needs

• Compare costs and rates to select the right financing option for the equipment you need

Business overdraft

Business overdrafts are attached to your business banking account and allow you to overdraw up to a specified limit on that account. You only pay interest on your outstanding balance.

• A pre-determined limit that you can overdraw up to on your business bank account
• Suitable to manage a business's day-to-day cash flow fluctuations

• Usually come with an application fee, line or facility fees and interest is paid monthly when the overdraft funds are used

Fully-drawn advance

This is a long-term business loan that allows you to borrow a set amount of money and repay it in pre-determined repayments.

• Long-term financing available to purchase a business, property or equipment
• A longer loan term of up to 10 years is usually available

• Repayments are usually made monthly with both fixed and variable rates available

Cash flow lending

This type of lending allows you to use your expected cash flow as collateral for the loan.

• Use your working capital assets as security for a loan
• Drawdown on funds as required, with your cash flow determining your loan

• Interest is charged on the balance outstanding and fees may apply

Trade finance

This type of finance allows you to fund the purchase of goods from domestic or international suppliers.

• Various types are available, such as letters of credit or bank guarantees between the buyer and seller
• Fill large orders without putting a stop to your cash flow

• You'll be charged interest on the amount provided for each trade as well as fees