creditSME_200x200

CreditSME

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.

Comparing other business loans

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

Rates last updated November 15th, 2018
Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
NAB QuickBiz Loan
$5,000
$100,000
1 to 3 years
$0
Apply for up to $100,000 and get a response within 60 seconds. No upfront or ongoing fees and a transparent fixed rate.
Lending Express Business Loans
$5,000
$500,000
0.25 to 2 years
$0
Apply online for up to $500,000 and get access to over 25 lenders through Lending Express.
Valiant Finance Business Loan Broker
$5,000
$1,000,000
0.25 to 5 years
$0
A Small Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 60 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
Note: If you apply and have your loan settled in November 2018, you will recieve $250 cash-back.
Moula Business Loan
$5,000
$250,000
0.5 to 2 years
$0
A loan of up to $250,000 that can be approved and funded within 24 hours. Available to businesses with 6+ months operating history and $5,000+ monthly sales.
Spotcap Loans
$10,000
$400,000
0.25 to 2 years
$0
Benefit from a fixed interest rate and no upfront fees with a loan available up to $400,000. Must have been operating for at least 18 months and have turnover over $200,000.
GetCapital Flexible Business Loan
$5,000
$500,000
0.5 to 2 years
Initial draw down fee
A flexible business loan up to $500,000 with convenient top up and redraw facilities. Business must have been operating for 9 months+ and have monthly sales of $10,000+
businessloans.com.au Flexible Business Loan
$5,000
$500,000
0.5 to 2 years
Initial draw down fee
A business loan up to $100,000 for unsecured loans, or $500,000 for secured loans that you can use for any business purpose. Transparent costs and redraw facility available.
OnDeck Business Loans
$10,000
$250,000
0.5 to 2 years
2.5% origination fee
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.
ANZ Unsecured Business Loan
$10,000
$1,000,000
15 years
$600
You can choose a fixed or variable interest rate
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.

Compare up to 4 providers

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.
Ask a question
Go to site