small-business

Small Cash Business Loans

Does your business need some quick funding? Find out about small business cash loans.

Many small businesses have cash flow that fluctuates. While business finance is available to cover these periods, not all business loans suit smaller funding needs. Small cash loans for businesses are available to cover you for just what your business needs.
 
 

NAB QuickBiz Loan Offer

NAB QuickBiz Loan Offer

From

12.95 % p.a.

fixed rate

  • Borrow up to $100,000
  • Fast application and turnaround
  • Sole traders, partnerships and companies can apply
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100% confidential application

NAB QuickBiz Loan Offer

An unsecured business loan up to $100,000 you can apply for in minutes.

  • Interest rate from: 12.95% p.a.
  • Interest rate type: Fixed
  • Application fee: $0
  • Minimum loan amount: $5,000
  • Maximum loan amount: $100,000
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Compare a range of business cash options

Rates last updated November 21st, 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.
Prospa Business Loan
$5,000
$250,000
0.25 to 2 years
$0
A business loan available up to $250,000 that can be funded in 1 business day. Must have a turnover of $6,000+ per month and provide 6 months of trading history, 3 months history for existing business purchases. Note: Businesses taking a loan out will have no repayments until 6th January, 2019
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 receive $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.
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.

Compare up to 4 providers

How does a small cash business loan work?

These loans are designed to help businesses in need of a small amount of funds. The loans may have shorter repayment terms than a standard business loan (generally between three and 12 months) and repayments are more regular, usually daily or weekly.

Most small business cash loans come with a minimum amount of between $1,000-$10,000 so you're able to borrow just how much you need.

Application of the loans can be conducted online and you will be required to provide some financial information for your loan to be processed.

How should you compare small business cash lenders?

  • Loan term. These are short term business loans which come with short repayment periods. The standard business cash loan will come with terms of less than one year but you may find lenders that offer longer terms. Choose a provider that has terms that meet your business's needs.
  • Fees. Some of the fees you can expect to pay include an establishment fee and a monthly account fee. You'll also be charged fees for late repayments or if you default on the loan. Remember to include the cost of these fees when you're comparing your options.
  • Interest rates. Lenders may charge you an annual rate or a factor rate, which is charged on your loan principal and is usually accompanied by daily repayments.
  • Funding time. If you're in urgent need of funds then this is a good factor to consider. Some business cash lenders can have your loan approved and in your business account by the end of the day, whereas others may take longer.

How to weigh up the benefits and drawbacks

  • Quick approvals. These loans are approved quite fast and you can have your loan approved in as little as 24 hours.
  • Options for bad credit applicants. Some small business cash loans are available to people with less-than-perfect credit. Keep in mind a higher rate may be charged.
  • Easy application. Most lenders allow you to plug your business accounting software into the loan application so your business can be evaluated quickly.
  • Higher interest rates. The majority of lenders will be more expensive than standard bank loans due to the higher risk and shorter loan term.
  • Short repayment term. These loans come with a short repayment term, usually a maximum 12 months. You can get an extension on your loan term, but this will mean that you will pay more.

What are the risks?

  • Terms and conditions you are not comfortable with.
    With any loan, you must read the terms and conditions, fully understand and be comfortable with them. Small cash business loans offer shorter loan terms, higher interest rates and stiffer penalties than other types of loans. You must be comfortable with these terms before you can sign up for one to avoid problems with repayments.
  • Loan amounts you don’t need.
    Just because you are eligible for the maximum loan amount doesn’t mean that you should apply for it. Only apply for what you need and what you can confidently repay.

Frequently asked questions

It depends on the lender because different loan providers will have their different loan approval systems. The good news is that most lenders will give you a response within 24 hours, some even within the hour.

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