Elect Capital Business Loan review
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- Max. Loan Amount
- $1,000,000
- Loan Term
- 3 months to 5.25 years
Summary
Elect Capital offers unsecured business loans with competitive rates and no property security needed.
If your business needs a cash injection but you don't want to put your house or other assets on the line, Elect Capital's unsecured business loan is worth a look. It lends $25,000 to $1,000,000 to Australian businesses, with no property or asset security required — the trade-off is you'll typically pay more for that convenience than you would with a secured loan.
Details
Product details
| Product Name | Elect Capital Business Loans |
| Min. Loan Amount | $25,000 |
| Max. Loan Amount | $1,000,000 |
| Loan Security | Unsecured |
| Loan Term | 3 months to 5.25 years |
How does an Elect Capital business loan work?
Elect Capital offers credit to businesses based on cash flow and business revenue rather than the business's credit history. Businesses can access up to $1 million in finance, with approval within four hours and same-day funding.
Eligibility
To qualify for an Elect Capital business loan, your business generally needs to:
- Be registered in Australia as a Pty Ltd company or partnership
- Have been trading for at least 12 months
- Generate a minimum monthly revenue of around $15,000
How to apply
Elect Capital's application process is designed to offer fast, relatively short-term (and smaller) loans to businesses.
You apply online, provide details on your business's trading history and revenue, and (per its own marketing) can receive a funding decision and same-day payout once approved.
Sources
Your reviews
Richard Finder
Senior Money Editor
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