Royal Finance Secured Business Loan Review | finder.com.au

Royal Finance Secured Business Loan

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Take advantage of Royal Finance Secured Business Loan and watch your business grow.

The main feature of this loan is the amount for which you are able to apply. You can request financing for anywhere between $50,000 to $5,000,000. With this amount range, you can borrow what you need to ensure that your business gets the necessary capital to grow and thrive in your industry.

depends on amount borrowed

Upfront Fee

$5,000,000

Max. Loan Amount

2 months to 1 year

Loan Term

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Details

Product NameRoyal Finance Secured Business Loan
Min. Loan Amount$50,000
Max. Loan Amount$5,000,000
Loan SecuritySecured
Upfront Feedepends on amount borrowed
Loan Term2 months to 1 year

How does the Royal Finance Secured Business Loan work?

You are able to apply for this secured business loan through Royal Finance's website. The loan terms are short, and their standard loan term ranges from 2 months to 1 year. However, it's able to extend this if necessary.

You are able to borrow a minimum of $50,000 and a maximum of $5,000,000. However, this depends on your business' prosperity and the amount your property is worth. You are able to borrow up to 80% of your property's value.

Once you have been approved, you can expect to have the funds in your account within one business day.

Features of the Royal Finance Secured Business Loan

Some of the features with this business loan include:

  • It is secured. This product requires an asset that you can put forward as security. The asset can include residential property.
  • You must have a business. Your business has to have been trading for six months before you are eligible to apply.
  • Short loan terms. The loan terms available start from 2 months and end at 1 year. Extensions can be applied as per your request.
  • Large borrowing amount. You are able to borrow a minimum of $50,000 and a maximum of $5,000,000 with Royal Finance. This large borrowing amount ensures that no matter how large your business goals are, you are able access the capital for them.
  • Competitive rates. There are rates that start from less than 1% per month. Your own rate will be determined for your loan term once you have been approved.
  • Up to 80% LVR. Seeing as you have to secure your property against this loan, you are able to borrow up to 80% of its value in order to fund your business dreams.
  • No credit checks. As this loan and your ability to pay it back is assessed on your current financial situation, which includes your business' stability and the amount your property is worth, your credit history is irrelevant.
  • 24-hour turnaround. If you need immediate finance for your business, you are able to have the funds in your nominated bank account within 24 hours from application assessment and approval.

How much does the loan cost?

Some of the fees you can expect to pay with this loan include:

  • A monthly fee. This varies on the amount that you borrow.
  • An establishment fee. This fee is charged once you have been approved for the loan and will also vary on the amount you need to borrow.

There are no transaction fees associated with this loan. You will know more about extra costs this loan charges once Royal Finance has assessed your needs and approved your borrowing amount.

How to apply for the Royal Finance Secured Business Loan

The application process is straightforward. Simply click on "Go to Site" and ensure you meet the following:

  • You need to own a business. The business that you own must have been trading for at least six months and have a high cash flow of $10,000 or more.
  • You need to own a house or some other form of property that can be used as an asset for security for this loan.

Some of the documents you need to provide include:

  • Proof you own the asset that you are using as security.
  • Your ABN and where you lease the business so there is proof that it exists.

You need not worry about your credit score. Approval for financing is based on your current financial situation, your business' assets and turnover rather than your credit history.

Competitive rates and short terms make this business loan a consideration for your business needs. Compare other loans to ensure this product is right for you.

Comparison of other business loans

Whilst we don't directly compare Royal Finance Secured Business Loan, compare other business loans offering similar features.

Data updated regularly
Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Moula Business Loan
$5,000
$250,000
1 to 2 years
2% Establishment fee
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.
Zip Business
$10,000
$500,000
6 months to 3 years
No Establishment fee
Borrow up to $500,000 with loan terms of up to 3 years. Flexible weekly, fortnightly and monthly repayment options available with no early repayment fees.
ebroker Business Loan
$5,000
$5,000,000
1 month to 30 years
$0 application fee
Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.
Lumi Unsecured Business Loan
$5,000
$300,000
3 months to 3 years
2.5% establishment fee
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
$30,000
1 month to 1 year
$0 application fee
An unsecured business loan from $3,000 that offers convenient pre-approval and no early repayment fees.
Valiant Finance Business Loan Broker
$5,000
$1,000,000
3 months to 5 years
$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.
Octet Trade Finance
$200,000
$8,000,000
1 month to 2 years
Transaction fee 2.5%
Access a line of credit to pay suppliers in over 65 countries. Borrow from $200,000 up to $7 million.
OnDeck Business Loans
$10,000
$250,000
6 months to 2 years
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.
Heritage Bank Fully Drawn Business Loan
$20,000
No maximum amount
1 to 25 years
Application fee is available upon application
Get access to a loan from $20,000 with no maximum limit with Heritage Bank. Loans can be secured by residential and non-residential property and have terms of up to 25 years.
Prospa Business Loan
$5,000
$300,000
3 months to 3 years
3% origination fee
Small business loans are available from $5,000 - $300,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $6,000 is necessary.
Westpac Business Loan
$20,000
$1,000,000
1 to 30 years
$0 application fee
Purchase a new vehicle, equipment or support your cash flow with a business finance solution from Westpac.
ANZ Secured Business Loan
$10,000
$10,000,000
Up to 15 years
$600
Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.
ANZ Unsecured Business Loan
$10,000
$1,000,000
Up to 15 years
$600
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.
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