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Loans for tradies

Finding a loan for business or personal use as a tradie can be tough, but there are options available.

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Fact checked

Whether you need a loan to cover financing for equipment, cash shortfalls due to unpaid invoices, or even for a personal purchase, it’s important to know how to find the right financing for you. Tradie loans can be secured or unsecured, are available from many different lenders and can be used for both personal and business reasons. Read this guide to find out how to get financing for what you need.

What options do tradies have for loans?

Business lenders you can compare

Valiance Finance Logo

Get access to a wide range of business finance options with Valiant Finance. Fill out this form to speak to an expert.

Valiant Finance works with a large panel of lenders that can help you find a loan for your business.

  • Access to 60+ lenders
  • Dedicated credit specialists
  • Various loan options available

Valiance Finance Lender Logos
Data indicated here is updated regularly
Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
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.
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.
Max Funding Unsecured Business Loan
$2,000
$300,000
1 month to 1 year
$0 application fee
An unsecured business loan from $2,000 that offers convenient pre-approval and no early repayment fees.
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.
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.
Westpac Business Loan
$5,000
$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.
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SocietyOne Unsecured Personal Loan (2-3 years)

SocietyOne Unsecured Personal Loan (2-3 years)

From

6.99 % p.a.

fixed rate

From

6.99 % p.a.

comparison rate

  • No ongoing fees
  • Must be employed
  • Min. loan amount $5,000
Security Logo

100% confidential application

SocietyOne Unsecured Personal Loan (2-3 years)

Borrow from $5,000 and benefit from no ongoing or early repayment fees. You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile.

  • Interest rate from: 6.99% p.a.
  • Comparison rate: 6.99% p.a.
  • Interest rate type: Fixed
  • Application fee: from 0% to 5% (capped at $995)
  • Minimum loan amount: $5,000
  • Maximum loan amount: $50,000
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Data indicated here is updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
SocietyOne Unsecured Personal Loan (2-3 years)

From 6.99% (fixed)
6.99%
$5,000
2 to 3 years
from 0% to 5% (capped at $995)
$0
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
SocietyOne Unsecured Personal Loan (5 years)

From 7.99% (fixed)
7.99%
$5,000
5 years
from 0% to 5% (capped at $995)
$0
You'll receive a fixed rate between 7.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
Plenti Fixed Rate Personal Loan

From 6.49% (fixed)
6.84%
$2,001
3 to 5 years
From $149 to $599
$0
You'll receive a fixed rate between 6.49% p.a. and 12.79% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.
Plenti Variable Rate Personal Loan

From 6.49% (variable)
7.49%
$2,001
1 to 2 years
From $149 to $599
$0
You'll receive a variable rate from 6.49% p.a and 12.79% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 12 months. Benefit from transparent costs and a rate estimate before you apply.
Symple Loans Personal Loan

From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 21.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
OurMoneyMarket Personal Loan

From 7.99% (fixed)
8.46%
$2,001
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 7.99% p.a. to 25.25% p.a. based on your risk profile
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.
Wisr Personal Loan

From 7.95% (fixed)
8.78%
$5,000
3 to 5 years
$595 (Establishment Fee)
$0
You'll receive a fixed rate between 7.95% p.a. and 19.45% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.
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Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $2,000
  • Loan Term: 9-14 weeks
  • Turnaround Time: 30 minutes - conditions apply
  • Fees: 20% of loan amount + 4% of loan amount each month
  • Bad credit borrowers OK
  • Quick & easy Approval
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Go to site More info
Data indicated here is updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
$2,000
9-14 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
$2,000
62 days to 9 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
$372
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Fair Go Finance Small Loan
$2,000
3-12 months
1 business day
$35
Establishment fee 20% of loan amount + monthly fee 4%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
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You can find loans from various types of lenders, including:

  • Peer-to-peer (P2P) lenders. If you have good credit, you might want to consider applying with a P2P lender, also known as a marketplace lender. P2P loans are funded by individual investors, and the lender operates as an intermediary. You can usually find more competitive rates compared to other types of loans, depending on your credit history. These loans are available for both personal and business use.
  • Banks and credit unions. If you have a good relationship with your current bank or have been operating as a sole trader for long enough to provide tax history, you may be eligible for a loan from a bank or credit union. There are flexible line of credit or overdraft loans, and some lenders offer same-day funding.
  • Payday lenders. If you’re looking for short-term finance or have bad credit, a payday lender could be an option to consider. They offer loans of varying amounts that are designed to be repaid within the short-term. Keep in mind that you will be charged higher fees and rates with these lenders.

What types of tradie loans are available?

There are different types of personal and business tradie loans, any of which you might have in mind when you’re searching for a loan as a tradesman. Here’s a breakdown of these types, and some of the features that come with them:

  • Car loans.
    These loans can come in various forms, including as standard personal car loans, novated leases, chattel mortgages or low doc loans designed for tradies and other self-employed borrowers.
  • Truck and equipment financing.
    While essential to your business, covering the costs of these machines can be expensive. There are secured and unsecured loans that can help cover the immediate cost of purchasing or leasing this equipment.
  • Business loans.
    These loans are designed to help a small business get off the ground or cover the costs in your existing business.
  • Self-employed personal loans.
    If you are taking out a loan for personal reasons, these lenders may consider you if you own your own business.
  • Short-term finance.
    If you just need a loan to see you through, small loans up to $2,000 and loans for larger amounts up to $5,000 are available.

Compare business loans to find one to meet your needs
Tradie at work

Here’s how you can compare your tradie loan options

Still unsure which type of loan is best for you? Here are a few points to keep in mind when comparing your loan options:

  • Loan term. How long do you need the loan for? Some of the loan options are designed to be short-term, such as payday loans, which may be ideal for certain scenarios but not in others. Decide what you need and choose a loan term to work for you.
  • Loan amount. If you’re unsure how much you need to borrow, there are some loan options that can provide you with ongoing credit to draw down on as you need to, for instance, a line of credit. If not, only borrow as much as you need.
  • Repayment flexibility. Are you able to select your repayment flexibility, that is, weekly, fortnightly or monthly? You should also check if you are able to make extra repayments without being charged a fee or if you can pay back the loan completely without being charged.
  • Fees and interest. Compare the costs of similar loan products against each other to ensure they are competitive.
  • Ease of application. Can you apply for the loan online? Are your business financials taken into account? Check what is involved in the application process before you apply.
  • Turnaround time. This is especially true if the need for funds is time-sensitive. Check how quickly the funds will be disbursed following approval.
  • Loan management. Most lenders allow you to easily manage your loan through an online account or app. Find out what services the lender provides.

Learn about insurance options for tradies

Need to manage cash shortfalls?

Unpaid invoices can be used to secure a type of business loan called invoice financing. It comes with reduced risk, no asset requirement or interest payments.

Compare invoice financing products below.

Data indicated here is updated regularly
Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Timelio Invoice Finance
$10,000
$100,000,000
Up to 4 months
$0
Get up to 100% of the value of your invoices without having to wait for customer payments, and with no minimum turnover or operating history required.
Scottish Pacific Invoice Finance
$200,000
$100,000,000
From 1 year
No set amount
Improve your business cash flow by financing your outstanding invoices. No minimum trading history required, but minimum 12 - month term and $200,000 in invoices.
Scottish Pacific Selective Invoice Finance
$10,000
$1,000,000
1 to 3 months
$500
Finance your unpaid invoices on demand with terms of 1 - 3 months. 95% of invoice is paid upfront, with no minimum trading history required.
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Frequently asked questions

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Related Posts

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

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