City Finance Business Lending approves business loans of up to $100,000 with flexible repayment terms and no hidden fees.
If you opt for a business loan from City Finance Business Lending, you can apply for between $5,000 and $100,000 and repay it over a period of up to 12 months. You also have the option of applying for an unsecured loan of up to $10,000 where you are not required to put up assets as collateral.
The application process is quick and can be completed online, with funds deposited into your account as early as the following business day. Any business type can apply, including established entrepreneurs, sole traders and new small businesses. (Your business must have been operating for at least six months to be eligible).
How does a City Finance Business Lending loan work?
The application process takes a few minutes and is completed online. Once submitted, a City Finance Business Lending loan relationship manager will get in touch. If approved, funds are usually deposited by the next business day.
City Finance Business Lending works with businesses to determine loan repayment terms, which are tailored to that business' goals and what it can afford. Loans are repaid over a period of between 3 and 12 months. You can make weekly, fortnightly or monthly repayments.
Features of the City Finance Business Lending loan
If you’re interested in applying with City Finance Business Lending, here are some of the features to consider:
- Unsecured option. This loan is available for loan amounts up to $10,000. You are not required to offer property, equipment or any other valuable asset as security.
- Fast turnaround. The online application takes five minutes. Your application can be approved within hours through same-day processing and the loan amount is deposited into your nominated account the next business day.
- No hidden fees. City Finance Business Lending charges no hidden or direct fees for providing business loans.
- Flexibility. The loan terms are based on your business goals and what you can afford. You can repay over a period of up to 12 months in weekly, fortnightly or monthly installments. Repayments are made via direct debit.
- Versatile. This loan can be used for any purpose, including paying off tax debt and making a balloon payment on a lease.
- Startups can apply. City Finance Business Lending will consider applications from businesses operating for six months or longer.
- Interest only options. An interest-only payment option exists for select clients (terms and conditions apply).
How much does the loan cost?
A City Finance Business Lending loan comes with a $500 application fee that is payable only on settled loans.
How to apply for this loan
If you’re looking to apply with City Finance Business Lending, you can get an obligation free quote on its website.
Your business must meet the following criteria:
- You must have been operating for at least six months
- Your business must have a valid ABN
You will also be asked to submit the following:
- Personal and corporate details
- Desired loan amount and its purpose
- Driver’s licence
- BSB and trading account numbers
- Profit and loss statements
- Tax returns
- Financial year-end statements
City Finance Business Lending’s bank verification system pulls a 90-day transaction history from your online banking account. You can opt to send in hard copies, but this might delay approval.
Applying for a business loan can mean the difference between your business flourishing and flat-lining. Before jumping at the first offer, make sure that the loan product is suited to your business, your objectives and your budget.
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Whilst we don't compare these loans directly, use the table below to see how it compares against other loans.