Get a personalised credit score and have access to a range of financing options for your business with CreditSME.

CreditSME is an innovative marketplace lending platform and credit rating service designed to help you better understand the credit profile of your business while providing you with various loan options. CreditSME has packages available to suit a range of SMEs, but all involve a simple online process through which you are given a personal CreditSME Rating, a report and access to finance.

Find out more about the benefits of CreditSME’s services in the review below.

How does borrowing from CreditSME work?

CreditSME has five packages available, ranging from basic to premium, so the first step is deciding which option you want to select. All these packages come with a CreditSME Rating, a report and a recommended lender profile. You also have the option to purchase CreditSME’s consulting services.

To complete the process, you need to provide your company’s recent financial statements and fill out a questionnaire. CreditSME will then match your company to financiers based on your rating and financing requirements. After reviewing your options, you can select one that best meets your business’ needs.

Features and benefits of CreditSME’s services

Opting for CreditSME brings with it a number of benefits:

  • Quick and easy loan application. Getting your CreditSME Rating Score and Report requires you to submit your financial statements and to complete a 10-point questionnaire online.
  • Funding can be quick. While the actual approval time depends on the lender you choose, it’s possible to receive your funds on the same business day. You will also receive an estimate from the lender as to when you’ll receive your funds before you finalise the loan documentation.
  • Range of packages available. Depending on your business needs and budget, you can select from five different packages. These options range from basic to premium and are outlined in more detail below.
  • Loan options. CreditSME will always seek loan proposals from at least two lenders to ensure competitiveness amongst the finance options.
  • CreditSME is independent. CreditSME is privately owned and independent from the financial institutions it deals with, so you won’t be receiving any loan offers from unsuitable lenders.

What packaging options are available?

There are five options available:

  • Basic: This includes a CreditSME Rating Score, a CreditSME report and a recommended lender profile for the existing loan facility. Cost is $139.
  • Advanced: You’ll receive everything in the basic package as well as a CreditSME Rating that takes into account the additional finance being sought. Cost is $189.
  • Refinancing: This package is suited to businesses looking to refinance and includes a CreditSME Rating based on your current business profile, and a CreditSME report. Your company will be matched to financiers based on your credit profile/rating and CreditSME will seek proposals from financiers. Cost is $269.
  • New Loan: This is CreditSME’s most popular package. It provides a CreditSME Rating based on your current business profile, a rating taking into account the additional finance you’re seeking and a CreditSME report. Your company will be matched to specific financiers and CreditSME will seek proposals from financiers. Cost is $319.
  • Premium: This is the most comprehensive package available. You’ll receive a CreditSME Rating based on your current business profile, a report scored based on three business financing scenarios and a report with all three loan scenarios. Your company will be matched to financiers based on its profile/rating and your selected loan scenarios, and CreditSME will seek proposals from the most appropriate financiers. Cost is $529.

How you can apply

You can purchase one of CreditSME’s packages online. To be eligible your business will need to be a small- to medium-sized enterprise (SME). You’ll also need to provide your company financials and fill out a 10-point questionnaire to receive your CreditSME Rating.

Comparison of other business loans

Whilst we don't directly compare CreditSME, compare other business loans offering similar features.

Rates last updated February 24th, 2018
Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
Prospa Business Loan
0.25 to 2 years
Apply for up to $250,000 and receive your approved funds within one business day. Note: Businesses must have a turnover of more than $5,000 per month and be able to demonstrate 6 months of trading history.
NAB QuickBiz Loan
1 to 3 years
An unsecured business loan from $5,000 that can be processed in 1 business day. Businesses that apply and are approved before 30 April 2018 are eligible for a discounted interest rate of 12.95% p.a.
Moula Business Loan
0.5 to 2 years
Small business loans of up to $250,000 approved and funded within 24 hours.
Transparent fees and rates. Note: Business must have been operating for at least 12 months and have monthly sales of at least $5,000.
Spotcap Loans
2 years
Take advantage of a fixed interest rate and no upfront fees with this business loan, available up to $400,000. Note: Business must have been operating for at least 18 months and have turnover over $200,000.
Sail Unsecured Business Loan
1 year
2.5% origination fee
Apply for up to $5,000 even if you have bad credit. Note: Business must have been operating for at least 6 months and have turnover over $50,000.
OnDeck Business Loans
0.5 to 2 years
$0 (2.5% origination fee)
Apply online for up to $150,000 with OnDeck and receive approved funds in one business day. Flexible Business Loan
0.5 to 1 years
1.5% Initial draw down fee
A 100% online business loan with amounts available from $5,000. Flexible eligibility criteria and transparent rates and fees.

Compare up to 4 providers

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