Can I get a business loan in Australia on a temporary visa?

Yes, it is possible, but it is more difficult than for permanent residents. Lenders generally require your visa term to be longer than the loan term. For example, if you have 2 years left on your visa, the lender will typically only approve a loan with a repayment period of 2 years or less.

Which visa types are generally accepted for business loans?

Lenders are most likely to approve applicants on skilled work visas (such as the TSS 482 or the older 457 visa) or business owner visas. Student visas and working holiday visas are generally not accepted for substantial business finance due to the temporary nature and work restrictions of those visas.

Will I need a larger deposit as a temporary resident?

Yes, lenders view temporary residents as higher risk borrowers. Consequently, they may require a larger deposit or more equity for secured loans compared to Australian citizens or permanent residents. You might also face slightly higher interest rates.

Does having an Australian permanent resident partner help?

Yes, applying jointly with an Australian citizen or permanent resident business partner significantly increases your chances of approval. Lenders often view the permanent resident partner as security that the business will continue to operate even if your visa status changes.

Are franchise loans easier to get for temporary residents?

Sometimes. Because franchises are established business models with lower failure rates, lenders may be more willing to finance a temporary resident buying a recognised franchise compared to starting a new independent business from scratch.