City Finance Business Loan

Information verified correct on December 9th, 2016

City Finance approves business loans of up to $50,000 with flexible repayment terms and no hidden fees.

If you opt for a business loan from City Finance, you can apply for between $5,000 and $50,000 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 the City Finance business loan work?

The application process takes a few minutes and is completed online. Once submitted, a City Finance business loan relationship manager will get in touch. If approved, funds are usually deposited by the next business day.

City Finance works with businesses to determine loan repayment terms, which are tailored to their development goals and what they can afford. Loans are repaid over a period of between 3 and 12 months. You can make weekly, fortnightly or monthly repayments.

Business lenders you can compare

Whilst we don't compare City Finance business loans directly, use the table below to see how it compares against other loans.

Rates last updated December 9th, 2016
Min Loan Amount Max. Loan Amount Loan Term Application Fee
NAB QuickBiz Loan
An unsecured business loan from $5,000 that can be processed in 3 business days.
$5,000 $50,000 1 to 2 years $0 Go to site More
Spotcap Loans
Get access to a line of credit for your small business with a loan from Spotcap
$5,000 $250,000 1 year $0 Go to site More
OnDeck Business Loans
Apply online with OnDeck for a small business loan up to $150,000
$10,000 $150,000 0.5 to 2 years (2.5% of the loan amount) Go to site More
Max Funding Business Loan
Get a business loan with a decision in 5 minutes with your money on the same day if you're eligible. Tax deductible interest repayments
$1,000 $500,000 1 to 3 years $0 Go to site More
Business Fuel
A convenient business loan that gives you access to your approved funds in three days or less.
$5,000 $250,000 0.25 to 1 years $0 Go to site More

Features of the City Finance business loan

If you’re interested in applying for the City Finance business loan, here are some of the features to consider:

  • Unsecured option. This loan is available for loan amounts up $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 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 will consider applications from businesses operating for six months or longer.

How much does the loan cost?

City Finance doesn’t charge any direct fees for setting up the loan, but it does take 5% commission.

How to apply for the City Finance business loan

If you’re looking to apply with City Finance, click “Go to Site” to get the process started.

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’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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