CreditSME

Apply online and get matched to 125 lenders and investors. Costs range according to the type of loan you apply for.

CreditSME is a business and commercial loan specialist that arranges funding solutions for businesses. They can arrange various types of loans including bank loans and overdrafts, unsecured loans, commercial finance, invoice finance, trade finance, equipment finance, acquisition finance, project finance and development finance. They are partnered with over 125 lenders and investors. They also provide a business credit rating service, which you can use to negotiate terms on a new loan or refinance your existing loan. Costs will depend on the type of loan you apply for and the rating package you’ve chosen.

$139

Upfront Fee

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Details

Product NameCreditSME
Max. Loan AmountNo maximum amount
Loan SecuritySecured
Upfront Fee$139

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.

Comparing other business loans

While we don't directly compare CreditSME, we look at other business loans offering similar features.

Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
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ANZ Unsecured Business Loan
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Swoop Finance Business Loan
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Apply online and borrow between $1,000 and $100,000,000. Options for good and bad credit borrowers.
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ANZ Secured Business Loan
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Subject to negotiation and will be detailed in your Letter of Offer
Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.
Lumi Unsecured Business Loan
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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.
Max Funding Unsecured Business Loan
$3,000
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Valiant Finance Business Loan Broker
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$0 application fee
A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 70 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
OnDeck Business Loans
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3% of loan amount
Apply for up to $250,000 and receive your approved funds in one business day. Minimum annual turnover of $100,000 and 1 year of trading history required.
Octet Trade Finance
$100,000
$10,000,000
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Transaction fee 2.5%
Access a line of credit to pay suppliers in over 65 countries. Borrow from $200,000 up to $7 million.
Prospa Business Loan
$5,000
$500,000
3 months to 3 years
3% 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 $6,000 is necessary.Settle your business loan by 31 December 2021 and benefit from no repayments for the first 8 weeks. Interest will accrue over this period.
Westpac Business Loan
$20,000
$3,000,000
1 to 30 years
$0 application fee
Purchase a new vehicle, equipment or support your cash flow with a business finance solution from Westpac.
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