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Swoop Finance Business Loans

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Swoop Finance Business Loan
Upfront Fee
Depending on your loan contract
Max. Loan Amount
$20,000,000
Loan Term
3 months to 30 years

Summary

Access from $5,000 to $20,000,000 in business funding with a business loan from Swoop.

Swoop's virtual business finance platform gives businesses of all sizes access to the funding they need from the lenders that are best suited to them.

Business loans with Swoop are typically available from $5,000 up to $20,000,000, though this will depend on the circumstances of your business and the lender that you opt for.

3 things to know about a Swoop Finance business loan:

  • Rates typically from 7% p.a. to 30% p.a.
  • Secured and unsecured loan options available
  • Typically access up to 25% of your business' annual turnover

In this guide

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  • Details
    • Product details
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Details

Product details

Product Name Swoop Finance Business Loan
Min. Loan Amount $5,000
Max. Loan Amount $20,000,000
Loan Security Secured
Upfront Fee Depending on your loan contract
Loan Term 3 months to 30 years

How does a Swoop Finance business loan work?

A business loan from Swoop, like most traditional business loans, is a lump sum of capital that you can use for business purposes, such as purchasing a premises, covering overheads, buying stock, or generally expanding your business. Swoop is not a lender in itself, but instead is a virtual finance platform that gives you access to a range of partnered lenders offering loans that best suit your business.

Simply input some basic details about your business onto Swoop's website and Swoop will match you with appropriate lenders via your personalised finance dashboard. Swoop's finance portfolio boasts a vast range of lenders, all with different eligibility criteria, application processes and interest rates.

Features of Swoop Business Loan

  • Secured and unsecured. Opt for either a secured or an unsecured business loan option with Swoop.
  • Quick online application. Only a few simple details about your business are required to match you with appropriate lenders.
  • Loan term. 3 months to 30 years.
  • Loan amounts. Typically up to 25% of your business' annual turnover, or $5,000 to $20,000,000.
  • Fixed and variable options. While most traditional business loans are fixed rate, there are variable rate loan options when applying with Swoop.
  • Funding time. This will vary depending on the lender that you opt for.
  • Good and bad credit options. While it is easier to qualify for finance if you have good credit, Swoop does offer options for bad credit applicants. However, you may have to offer a personal guarantee.
  • Banks and alternative lending options. Swoop is partnered with 9 major banks, and a range of alternative lenders.
  • Secured data. All applications are secure.

How much does Swoop cost?

  • Interest rate. Your interest rate will depend on the financial circumstances of your business, the loan amount, and the lender that you opt for.
  • Fees. Fees will vary depending on your loan contract

Eligibility Criteria

Swoop Finance will assess your business and application to match it against their internal eligibility criteria. At a minimum, businesses must:

  • Have been operating for a minimum of 6 months
  • Have an annual turnover of at least $20,000

How to apply

To apply for a business loan with Swoop Finance, simply click "Go to site" to visit the lender's website directly and submit an application. Remember that eligibility criteria will vary depending on the lender you opt for and the loan that you apply for. Swoop will need the following information in order for you to apply:

  • Your business' annual turnover
  • How much funding you require
  • The age of your business

Swoop offers a vast range of different business financing options. For more information on the types of financing your business could qualify for, compare our business loan options.

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