Boost Finance Short Term Business Finance

How does Boost Finance Short Term Business Finance work?

You are able to apply for a short-term business finance solution from Boost Finance online or via phone. The amount you are able to borrow for your business starts at $20,000 and ends at $10,000,000. The interest rate on this loan starts from 1% per month. The loan terms are short and start from a minimum of 3 months and extend to a maximum of 1 year. Once your loan application has been approved, you can expect the funds to be in your nominated bank account in as little as 24 hours.

Features of the Boost Finance Short Term Business Finance

Some of the features of this loan include:

• Short loan terms. The loan terms available start from 3 months and end at 1 year.
• Large borrowing amount. You are able to borrow a minimum of $20,000 and a maximum of $10,000,000 to fund your business dreams.
• Secured loans. This short-term loan is secured. This means that you have to put an asset forward as security in case you are unable to pay for the loan.
• Varied loan security. You are able to secure this loan through real estate and strong cash flow as well as other high value assets you might own, such as boats, jewellery or artwork. The funds can be purely based on the cash flow of your business.
• Fast fund turnover. You can expect to receive your funds in the 24 hours after your loan application has been assessed and approved.
• Low interest rates. You can benefit from low interest rates that start from as little as 1% per month. However, as this loan is short term, you can expect a higher interest rate to be charged.
• Flexible repayments. These repayments can be tailored to the cash flow of your business. Specifics as to when you need to repay can be discussed with your Boost Finance specialist.
• No fees for early repayments. There are no fees if you decide to pay off your loan early.
• Pre-paid interest periods are available. You can benefit from interest-free periods for six months.

How much does the loan cost?

Some of the fees that will be applicable for this loan include:

• A direct debit dishonour fee. You can expect to pay this if Boost Finance tries to take funds out of your account but they are not there. Be aware of these charges.
• Late payment interest. This can be charged on the amount that you owe and haven't paid off on time.
• An establishment fee. This will be paid at the start of your loan term. It can be a flat number or a percentage of the amount you've asked to borrow.
• A monthly charge. This charge is for Boost Finance to look after your account. It's an account-keeping fee.

The fee list above is what you can expect to pay with a loan through Boost Finance. The specific numbers that apply to your loan will be provided to you once your application has been approved. Although the charges might seem small, they will add up over the term of your loan and are something to keep in mind.

How to apply for the Boost Finance Short Term Business Finance

Boost Finance has a list of what you need to apply for its short-term loan. Click on "Go to Site" and ensure you meet the following requirements:

• You need to have a registered company. It can be shown through an ABN or an ACN.
• You need to be an Australian resident.
• You need to demonstrate how the loan will be repaid. This can be done through bank statements, cash flow statements etc.
• You need assets as security. If you do not have assets as security for this business loan, you will not be considered.

Some of the documents you need to provide are:

• Your Australian driver's licence. This is so you can prove to Boost Finance that you are who you say you are.
• Proof of assets. This can be done by obtaining a copy of your mortgage and showing that you own the assets that you are putting forward as security.

Take advantage of Boost Finance's short-term finance option to help your business grow. Compare other short-term business loans and ensure the one you choose meets your needs.

Comparison of other business loans

Whilst we don't directly compare Boost Finance Short Term Business Finance, compare other business financing options.

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Promoted Finder Score 8.2 Great ScotPac Boost Business Loan	Finder Score 8.2 Great	$10,000	$500,000	6 months to 3 years	$0 application fee		A business loan for any industry. Borrow between $10,000 and $500,000, with approved loans funded within 24 hours. Minimum monthly turnover of $10,000 and 1 year of trading history required.	Go to siteView details Compare product selection Compare	loading
Finder Score 9.5 Excellent Valiant Finance Business Terms Loans	Finder Score 9.5 Excellent	$5,000	$500,000	3 months to 5 years	$0 application fee		A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 80 lenders. Loans between $5,000 and $20 million are available. Request a call – your loan can be funded in 1 business day.	Enquire nowView details Compare product selection Compare	loading
Finder Score 5.5 Standard ebroker Business Loan	Finder Score 5.5 Standard	$5,000	$5,000,000	1 month to 30 years	$0 application fee		Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.	Enquire nowView details Compare product selection Compare	loading
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Finder Score Scotpac Line of Credit	Finder Score		$500,000	Up to 2 years	Establishment fee of 3% of the facility limit		Go to siteView details Compare product selection Compare	loading
Finder Score 8.4 Great Prospa Unsecured Business Loan	Finder Score 8.4 Great	$5,000	$150,000	3 months to 5 years	3% origination fee		An unsecured business loan available up to $150,000 that can be funded in 1 business day. You must provide 6 months of trading history, 3 months history of existing business purchases and have a turnover of $6,000+ per month.	Go to siteView details Compare product selection Compare	loading
Finder Score 8.5 Great Prospa Secured Business Loan	Finder Score 8.5 Great	$150,000	$500,000	3 months to 5 years	3% origination fee		A secured business loan available up to $500,000 that can be funded in 1 business day. Your business must have a turnover of at least $6,000 per month and you must provide 6 months of trading history and 3 months history for existing business purchases.	Go to siteView details Compare product selection Compare	loading
Finder Score 7.9 Great ScotPac Invoice Finance	Finder Score 7.9 Great	$200,000	$200,000,000	1 to 2 years	Establishment fee 1% of the limit		Improve your business cash flow by financing your outstanding invoices. No minimum trading history required, but minimum 12 - month term and $200,000 in invoices.	Go to siteView details Compare product selection Compare	loading
Finder Score 8.5 Great People's Choice CU Variable Rate Business Loan	Finder Score 8.5 Great	$50,000	$1,000,000	1 to 25 years	$600 (loans up to $80,000) & 0.75% of loan (loans greater than $80,000)		A variable rate business loan from as low as $50,000 with the option to pay interest only for up to 25 years, no extra repayment fees, and no ongoing monthly fees.	ContinueView details Compare product selection Compare	loading
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Finder Score 5.5 Standard Octet Invoice Finance	Finder Score 5.5 Standard	$100,000	$10,000,000	1 month to 2 years	No Set Amount		Convert up to 85% of your company's receivables into cash flow. The value of your receivables need to be worth at least $250,000 to be eligible.	ContinueView details Compare product selection Compare	loading
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Finder Score 7.3 Great Beyond Bank Business Loan	Finder Score 7.3 Great	$5,000	No maximum amount	1 to 7 years	$295		Finance a business loan to put your plan into action with flexible repayment options.	ContinueView details Compare product selection Compare	loading

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