LoansOne Unsecured Business Loan

How does the LoansOne Unsecured Business Loan work?

When you apply for an unsecured business loan with LoansOne, you'll be taken through a short online form. Armed with this information, a representative from LoansOne will assess your application and call you to ask additional questions and determine your eligibility.

If you are deemed to be a good fit for an unsecured business loan, you'll work with the LoansOne rep on the phone to negotiate the right loan amount and terms to suit your needs. Loans are available between $5,000 and $500,000, with loan terms up to 2 years.

Next, you'll be provided with a loan offer outlining the terms of the loan, including a full schedule of all fees and charges applicable. Simply sign the contract and the funds will be deposited in your account within 24 hours. Loan repayments are made by direct debit from your nominated bank account.

Features of the LoansOne Unsecured Business Loan

A LoansOne Unsecured Business Loan includes the following features:

• Loan amounts to suit any need. Choose a loan amount between $5,000 and $500,000 and only borrow what you need.
• Flexible repayment terms. Create a loan repayment schedule that doesn't hurt your business's cash flow, with repayment options from 1 month to 2 years depending on the loan amount and your individual circumstances.
• Tailored loan solution. LoansOne offers a variety of loan products to suit the needs of Australian businesses of different sizes and in different industries. The LoansOne rep will work with you to tailor-make a loan package for you.
• No security required. As an unsecured business loan, a loan from LoansOne does not require any personal or business assets to be offered as collateral for the loan.
• Simple application process. With no face-to-face meetings or piles of paperwork, LoansOne has made the loan application process as simple as possible. Funds can be applied for by completing an online form, after which a LoansOne rep will phone you to ask a few questions. You'll then be provided with a loan offer and schedule of fees to consider. Approved applications can be funded within 24 hours.
• Overnight funding. Once approved, the loan amount is usually available in your bank account within 24 hours.
• Hands-free repayments. Loan repayments are made by direct debit straight from your bank account.

How much does the loan cost?

LoansOne offers flexible loan products, tailored to suit the needs of a variety of Australian businesses.

During the loan application process, you'll speak to a LoansOne rep on the phone to discuss your individual situation. If it's considered that a LoansOne Unsecured Business Loan could be a good fit for you and your business, loan terms will be suggested and a full schedule of fees and charges will be provided.

This schedule will set out the full amount of the loan (between $5,000 and $500,000), the loan term (from 1 month to 2 years) and the repayment amount and frequency. All fees, charges and interest rates applicable to your loan will be set out in the schedule, including any application fees and other one-off or ongoing fees.

It's important to read the fee schedule carefully and to ask questions to ensure you fully understand the terms before signing the contract.

How to apply for the LoansOne Unsecured Business Loan

Here's what you can expect when you apply for an unsecured business loan from LoansOne:

• Fill in an online form. Taking just a few minutes to complete, the form asks eight simple questions covering your contact details, basic information about your business and the desired loan amount.
• Wait for a phone call. Once you've submitted the online form, a rep from LoansOne will phone you to discuss your application. They'll ask some questions about your needs and will determine if a LoansOne Unsecured Business Loan could be a good product for your circumstances. If so, the rep will suggest loan terms and will outline any additional information you'll need to provide to support your application.
• Decision time. A decision on your loan application will generally be made the same day. You'll be provided with a loan offer and a schedule of fees to consider.
• Fast funding. Once approved, loan funds will be available in your bank account within 24 hours.

Ready to apply for an unsecured business loan from LoansOne? Simply click "Go to Site" on this page and start the simple online application process.

A LoansOne Unsecured Business Loan is a flexible finance option for Australian business owners, particularly those who aren't keen on putting up their personal or business's assets as security. Before choosing this or any other loan product, compare your business loan options to ensure you're working with the right lender and the right product for your circumstances.

Frequently asked questions

• What does an 'unsecured' loan from LoansOne mean?

  An unsecured loan means you do not need to provide a physical asset, like a house or commercial property, as collateral for the loan. This reduces the risk to your personal assets.

• Is a director's guarantee required?

  Yes, while no physical asset is required, all unsecured business loans in Australia require a personal guarantee from the company director(s). This means the director is personally liable if the business fails to repay the debt.

• How much can I borrow without security?

  Typically, unsecured loan amounts from online lenders like LoansOne range from $5,000 up to around $100,000. The final approved amount depends on your business's monthly revenue and cash flow stability.

• Are the interest rates higher for unsecured loans?

  Yes, the interest rates for unsecured loans are higher than for secured loans. This is because the lender is taking on more risk as they have no physical asset to recover if the business defaults.

• How are repayments structured?

  Repayments are usually set up as automatic daily or weekly direct debits. This structure is designed to match the typical cash flow of a small business and prevent the buildup of a large monthly repayment.