RateSetter Business Finance

A business loan available from $10,000 with terms of up to 5 years. An upfront fee of 0.5% and tailored interest rates apply.

  • This product is no longer available. But customers may be eligible to apply for a RateSetter personal loan for business purposes.

With RateSetter's Business Finance, you can apply for a loan of $10,000 up to $150,000. Loan terms range from 6 months to 5 years. The loans can be secured or unsecured. The rate offered will depend on the circumstances of your business, and they will take into account how much you’re trading and looking to grow within the next few years. As the rate is tailored, established and growing business will be given lower rates, but it’s likely that you’ll get a higher rate if your credit score isn’t perfect. Apart from interest charges, they also charge an upfront fee of 0.5% the loan amount.

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0.5%

Upfront Fee

$150,000

Max. Loan Amount

6 months to 5 years

Loan Term

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Details

Product NameRateSetter Business Loan
Min. Loan Amount$10,000
Max. Loan Amount$150,000
Loan SecuritySecured
Upfront Fee0.5%
Loan Term6 months to 5 years
  • This product is no longer available. But customers may be eligible to apply for a RateSetter personal loan for business purposes.

How does RateSetter Business Finance work?

A business loan from RateSetter is simple: first, figure out how much your business needs to borrow and how long it needs to repay the loan. You have to have this information to apply, along with some data about your business, which is used to determine your eligibility for the loan. You can apply for a loan of between $10,000 and $150,000.

Once you've been approved, a monthly repayment schedule will be set and repayments will be deducted from your nominated bank account every month over the selected term of your loan.

Features of RateSetter Business Finance

Here are some of the features that come with Business Finance from RateSetter:

  • Secured or unsecured loans. You have the option to choose between a secured or unsecured loan.
  • Interest rate. The rate you are charged depends on your business' circumstances (such as how much it's trading and looking to grow within the next few years).
  • Varied loan amount. This loan allows businesses to apply for a minimum of $10,000 and a maximum of $150,000.
  • Varied loan terms. You can opt for loan terms up to 5 years, giving businesses plenty of time to focus on growth and paying off the loan.
  • Fast turnaround. You can apply for Business Finance in 10 minutes online and find out if you've been approved within one business day. Approved funds will be transferred in one business day following approval.

How much does the loan cost?

There are fees and charges associated with a Business Loan from RateSetter, such as:

  • Interest charges. You will receive a tailored rate when you apply. Established and growing businesses will be rewarded with lower rates.
  • Late repayment fees. If you are unable to make a payment, you may be charged a fee.

How to apply for RateSetter Business Finance

You're eligible to apply for a Business Loan from RateSetter if:

  • You can demonstrate your business has an annual turnover of $250,000+
  • You have a good credit history
  • You have been trading for at least two years

Some of the information you'll need for your application is:

  • Your ABN/ACN (Australian Business Number/Australian Company Number)
  • The number of employees you have
  • The amount of assets your business has
  • The amount of profit your business made last financial year
  • Your annual turnover from the last financial year
  • Your business address

As long as you have this information available, your application process shouldn't take any longer than five minutes.

RateSetter's Business Loan offers low rates and gives established businesses the opportunity to grow. However, it is important to do your research before deciding this loan is right for you.

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