Take your business to the next level with a loan up to $500,000 from MyCashFinance.
If you’re looking to invest in your business but don’t have the ready capital, MyCashFinance can provide you with quick financing. You can borrow up to $500,000 so the loan is suitable for small and large businesses, and you can find out if you’ve been pre-approved in five minutes.
How can I take out a Business Loan with MyCashFinance?
Start by checking you’re eligible for the loan by completing the pre-approval form. There are only four fields to complete and it shouldn’t take you more than a minute. Within five minutes, you’ll know if you’ve been pre-approved. You’ll then be asked to submit documents in order to process your complete application. If you’re approved you can e-sign the document and the loan can be in your account on the same day.
Business lenders you can compare
Whilst we don't compare loans from MyCashFinance directly, use the table below to see how they compare against other loans
What features does MyCashFinance offer with its Business Loan?
If you’re in need of business financing, consider the following features that you’ll have access to with MyCashFinance:
- Less stringent lending criteria. You won’t be required to submit financial statements or business plans with your application, as is the case with other lenders.
- Apply for a range of loan amounts. You’re able to apply for between $1,000 and $500,000, making the loan suitable for a variety of businesses and purposes.
- Repayment options. Choose to make repayments as per your business needs – weekly, fortnightly, monthly or capitalised repayment terms are available.
- Loan terms. You’ll have between 1 month and 3 years to repay the loan.
- Early repayment. You have the option of repaying the loan early to save on interest.
- Receive your funds quickly. Full approval can be in as little as one to three hours and you’re able to receive your loan on the same business day.
How much will the Business Loan cost?
The amount you pay will depend on how much you borrow and how long your terms are for. Interest rates start from 2% per month.
Am I eligible to apply?
- You’re using the funds for business purposes
- You own a motor vehicle or real estate (either can be under finance/mortgage)
- If you don’t own a vehicle or real estate you can apply with someone who does
- Bad credit is considered for short term loans, if you’re applying for an unsecured loan your credit need to be relatively good
- You’re over the age of 18
- You are starting a new business or operating an existing one
Here’s how you can apply for the Business Loan
Click ‘Go to Site’ when you’re ready to submit your application. Make sure you meet the above criteria first. The pre-approval form requires information regarding your loan amount, purpose and credit history. If you’re pre-approved you’ll be required to submit further details including:
- Income. Payslips, business certificates or Centrelink statements.
- Assets. Your car registration or council rates.
- Identification. Your driver’s licence, passport or photo card.
MyCashFinance offers a convenient online application and flexible loan for your business, but before applying, compare your options to make sure you’re applying for the right loan for your business needs.