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SmartAdvance Small Business Loan

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SmartAdvance Small Business Loan
Upfront Fee
fee upon application
Max. Loan Amount
$300,000
Loan Term
3 months to 5 years

Summary

Get an unsecured loan up to $300,000 with terms up to 5 years. Fees and charges apply.

SmartAdvance offers both secured and unsecured small business loans. You can borrow from $5,000 up to $300,000 unsecured, while the loan amounts for secured loans will depend on how much the lender is willing to offer. Terms for unsecured loans are shorter, up to 12 months, while terms for secured loans can be up to 5 years. Interest rates also vary depending on whether the loan is secured or unsecured. For secured loans, the interest rate is around 5%, but it can be more than 15% for an unsecured loan. Applications are online and you can also get a free quote that will not affect your credit score.

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Details

Product details

Product Name SmartAdvance Small Business Loan
Min. Loan Amount $5,000
Max. Loan Amount $300,000
Loan Security Secured
Upfront Fee fee upon application
Loan Term 3 months to 5 years

How does the SmartAdvance Small Business Loan work?

You can apply for amounts from $5,000 to $300,000. Once your application is approved, you can expect to see the funds in your account within the following two to five business days. Bad credit applicants will be considered with this loan. Loan terms are between 3 months and 5 years and payments are taken out of your account on a daily or weekly basis.

For amounts below $50,000, you need to:

  • Fill in the online application form.
  • Provide three months of bank statements.
  • Provide a copy of your driver's licence

For amounts of $50,000 or above, you need to:

  • Fill in the online application form.
  • Provide six months of bank statements.
  • Provide updated quarterly BAS statements.
  • Provide full financials for the previous year.

Features of the Smart Business Loan

Features of this business loan include the following:

  • Large borrowing amounts. You are able to borrow a minimum of $5,000 and a maximum of $300,000, which is more than enough capital to help grow your business.
  • Short loan terms. Loan terms are between 3 months to 5 years, allowing you to repay what you owe over the short term.
  • Quick turnover of funds once approved. You will know whether or not you are approved for the loan within 24 hours of applying, and if successful will received the funds within the following three business days.
  • Straightforward online application process. You will find all the details and information you need to provide on the company's website, and it only takes around 10 minutes to submit your application.
  • No hidden fees. Any fees associated with the loan will be clearly outlined in your agreement upon approval.
  • Varied repayments. You can choose between daily and weekly repayments to pay back what you owe.
  • Unsecured funds up to $150,000. You don't have to provide any security, such as a residential or commercial property for loans of up to $150,000. High amount loans may require security.
  • Ideal for start-ups. This loan is perfect for businesses that are just finding their feet. Your business only has to have been trading for six months in order to be eligible.

How much does the loan cost?

As with most business loans, there are some fees associated with taking out a Smart Business Loan. A full list of fees will be given to you when you apply and are approved for the loan.

How to apply for the SmartAdvance Small Business Loan

Before you begin your application, make sure you meet the all following requirements:

  • Your business must have been operating for more than six months.
  • It must have a monthly turnover of $10,000 or more.
  • You must show proof of regular cash flow, either daily, weekly or monthly.

Then, simply click on the "Go to Site" button and begin the straightforward application process.

Documents you will need to provide include:

  • Three to six months of business bank statements.
  • A photocopy of your driver's licence.
  • Up-to-date BAS statements.
  • Full financial records for the previous business year, for loans of $50,000 and above.

An unsecured business loan from SmartAdvance is definitely an option worth considering for your startup. Compare other business loans to make sure it meets all your needs, before going forward.

Comparison of other business loans

Whilst we don't directly compare the SmartAdvance Small Business Loan, compare other business loans offering similar features.

Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Lumi Unsecured Business Loan
$5,000
$300,000
3 months to 3 years
2.5% establishment fee
Apply for up to $300,000 from Lumi and benefit from short loan terms, no early repayment fees and once approved receive your funds in just one business day.
Valiant Finance Business Loan Broker
$5,000
$20,000,000
3 months to 7 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.
ebroker Business Loan
$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.
ScotPac Boost Business Loan
$10,000
$500,000
3 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.
Max Funding Unsecured Business Loan
$3,000
$30,000
1 month to 1 year
$0 application fee
An unsecured business loan from $3,000 that offers convenient pre-approval and no early repayment fees.
Prospa Business Loan
$5,000
$500,000
3 months to 3 years
3.5% origination fee
Small business loans are available from $5,000 - $500,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $5,000 is necessary.
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