
Compare business loans in Australia
A business loan can cover you during slow periods or help propel you into growth. Whatever your need, compare your options to find the right interest rates and features for your business needs.


You can get a business loan from most Australian banks or from online business lenders.
The amount you can borrow, your interest rate and whether you need security all depend on your lender's requirements and your business's size, needs and financial position.
Choosing the right business loan depends on your business and what you're trying to achieve.
The most straightforward business loan, where you apply for a loan and receive the funds in a lump sum. You can get secured and unsecured business loans for flexible amounts, and can receive a variable or fixed interest . These loans are useful when you're trying to cover large expenses.
Samantha runs a catering business. She needs to borrow $60,000 to cover a kitchen expansion. Samantha needs a single lump sum. But she also wants the ability to repay the loan quickly. She expects her revenue to increase as a result of the expansion and wants to clear the debt sooner.
She opts for a business loan with a variable interest rate, as variable rates tend to come with no early repayment fees.
A business line of credit gives you a pool of money that you can withdraw and pay off whenever you want. Once you're approved for a line of credit you can spend money flexibly, up to the credit limit amount. You only pay interest on the money you withdraw, not the overall limit you're approved for.
This is useful for businesses that have to cover multiple smaller expenses over time or have seasonal spikes and dips in revenue.
Glen runs a landscaping business with 5 employees. He's approaching a quiet few months for the business and wants to have money on hand to cover a few expenses he has been putting off.
On top of paying his employees, he wants to renovate his office and upgrade his equipment. He takes out a line of credit, and is able to get a quote for his upgrades and withdraw that exact amount each time.
When his cash runs low during this quiet season, he also withdraws money in order to meet payroll. When business picks up, he pays off his withdrawals and is able to reuse that credit the next year.
Loans to cover the purchase of business vehicles including cars and trucks. These come with a range of options, such as leasing the vehicles or buying the vehicles outright. They can be used to buy individual vehicles or an entire fleet.
Loans to cover the purchase of business equipment, such as computers, tools, coffee machines, or kitchen fit-outs. You can rent, lease or buy outright.
Invoice financing lets you use outstanding invoices, which represent future payments, to get cash when you need it now. A cut of the outstanding invoice is paid to the lender in return for the upfront funds.
If you have a business bank account you can get an approved overdraft limit to borrow beyond what's in the account. This is useful to cover brief cash flow shortfalls that are not predictable enough to require a line of credit.
Business credit cards let you cover business expenses now and pay them off over time. Useful for sole traders, small businesses, or to fund the business needs of trusted staff.
To help find the right business loan, ask yourself these questions:
It's easier for larger, established businesses to get finance in Australia. But startups and very small businesses might find it harder because they likely have fewer assets, less consistent cash flow or, in a startup's case, no established track record of business activity.
Startups often need extra cash in order to bring their idea to life. While many rely on investors, there are business loans that cater to start ups.
In general, lenders will only lend to startups who have been in business for at least 6-12 months and meet certain revenue figures.
Note that many business loans are risk-based. This means interest rates are set depending on the financial position of you and your business. New, unproven businesses are obviously riskier customers. This means higher interest rates.
Small businesses will find it easier to get a business loan approved if:
Business loan interest rates vary depending on your lender, your loan type, and your own (and your business's) financial position.
Before signing a business loan contract you should look at all the loan fees. Factor in the cost of loan fees along with the interest payments.
The most common business loan fees include:
Lenders assess individual borrowers along with the business itself. For larger businesses, a lender will check a company director's credit report.
Having a good credit history is even more important for sole traders and small business owners. There are also credit scores specifically for businesses.
You can improve both personal and business credit scores by establishing a good track record of repaying debts on time, not missing bills or loan repayments and avoiding applying for too many credit products at once.
Online business lenders can approve applications quickly. A traditional bank may take longer and you have to speak to a lending specialist from the bank first.
Read our review of the Good for B business loan. Find out if this green business loan is suitable for you.
Whether you're looking to grow your business, support company cash flow or purchase new equipment, Bank of Melbourne could have a loan option for you.
Whether you're looking to support cash flow, grow your business or purchase new equipment, BankSA may have a business loan option for you.
Heritage Bank's Fully Drawn Business Loan is a flexible business finance offering with both fixed and variable rate options, a high maximum loan term and no limit on borrowing power.
What you need to know if you’re applying for a business loan as a sole trader.
BOQ Business Term Loan lets you borrow from $10,000 and benefit from flexible repayment terms and access to a redraw facility.
You may be able to get better rates and loan conditions with increased flexibility, quicker decisions and better customer service through non-bank lenders.
Apply for a loan of up to $250,000 and have the approved money in your account within three days with NAB's QuickBiz Loan.
This small business loan offering from OnDeck could provide you with up to $250,000 financing in 24 hours.
Do you need finance to help your small business grow? Moula offers loans of between $5,000 and $250,000 with flexible eligibility criteria – apply online by providing your business data and find out if you've been approved in 24 hours.
i am recently retired man. i am on aged pension. i need business loan to purchase established business. i want to put some $25000 –$ 35000/ in to it from super annuation funds. i am regularly getting aged pension from centrelink.please guide me the lenders who are liberal in granting business loan to me.
Hi Vinod!
Thanks for reaching out to us.
To apply for a business loan, generally, you will need a summary of your business’ financials, a business plan, financial forecasts (including cash flow forecasts), and your personal information. However, many new lenders simply request to log into your business’ accounting software to get this information for themselves.
You may refer to our list of Centrelink business loans to know which lender may consider you for a loan. Please click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Hope this helps.
Regards,
Nikki
my question is l am looking for information for a business online banking account, what will be the monthly fees be to have this online account? l have obtained information from NAB and CWB that the account will be zero a month for an online account when you do not use the branch, all banking is done online. to have an OD attached to this online banking business account the fees are below for an unsecured amount.
for OD facility NAB is 14.5% with 1.75% annual fees
for OF facility with CWB 14.75% with 1.75% annual fees
what is will the account fees be with ANZ and Westpac
l cannot see where l find these on your site.
also how long back did a zero fee for online banking start with an online banking account, what year?
Hi Claire,
Thank you for your questions.
1. l am looking for information for a business online banking account, what will be the monthly fees be to have this online account?
Depending on the type of account, some banks have nil monthly fees, others may charge as much as $20. You may refer to our list of business bank accounts to compare your options. Most banking accounts these days can be done easily online.
2. What is will the account fees be with ANZ and Westpac?
You can find more information about ANZ business accounts and its fees from our comparison table. For Westpac, Depending on the account, they charge $10 monthly account fee for their Westpac Business One Account – Low Plan and $20 for Westpac Business One Account – High Plan
3. How long back did a zero fee for online banking start with an online banking account, what year?
I’m afraid we don’t have information in that regard. But most banks offer cheaper if not zero fees on some of their online bank accounts to their customers helping them save money on monthly charges.
Hope this helps.
Cheers,
May
small business unsecured loan of 300,000. to buy an existing profitable business , with low fixed interest , no early payout fee ,over 5years approx. Have financial statements of business and $800,000. assets of my own , so could be secured loan.
Hi Tom,
Thank you for your inquiry.
Buying a business is a great undertaking and requires a lot of work. If you haven’t already, you might find our guide in buying a business useful. On the page is a comparison table you can use to find the right lender for you. Once done comparing, you may tick the “Go to Site” or to request a call click the available “Enquire now” button. Before applying for a loan, it would be good to check their eligibility requirements as well as their terms and conditions.
Best regards,
Rench
Hello,
Just wondering if there are any finance options available for me. Right now all I have is my business plan and projections from my account. That’s it, no assets, no defaults on my credit score however I do have 3 inquiries(Business related). I’m looking for funding for my equipment, without the equipment we can’t start. Is there any chance at all for me?
Regards,
Mike.
Hi Mike,
Thanks for contacting finder.
You may visit these links https://www.finder.com.au/business-loans and https://www.finder.com.au/equipment-finance for you to get a better look on the business loan, equipment funding and funding options available to you, and how you can determine the best type of financing for your business.
Cheers,
Joanne
Is there a possibility of being funded without collateral and a guarantor? Low doc, etc..?
Hi Trevor,
Thank you for your inquiry.
You may want to consider the following low doc loans.
– Low Doc Personal Loans
– Low Doc Home Loans
I hope this information has helped.
Cheers,
Harold