Trove Capital Business Loan

Apply for a business loan of up to $60,000 with no security required.

Trove Capital's business loans are available to small and medium businesses for up to $60,000. The application process is online and if all the required information is submitted, you can be approved and funded within 24 hours. Repayments are scheduled to match your business's income. Trove Capital finance is unsecured, which means that you don't have to offer collateral to secure the loan.

How does the Trove Capital business loan work?

When you apply for a Trove Capital business loan you will be asked to specify the loan purpose. This loan can only be used for business purposes such as for buying equipment, hiring additional staff or renovating business premises.

Even though the loan can be made available within 24 hours, you can choose to have the funds deposited a week or a month after the application.

Features of the Trove Capital business loan

If you'd like to apply for this loan, below are some of its features.

  • Quick application process. The application process is online. Trove Capital uses read-only technology to review your business's bank statements.
  • Flexible. Besides working capital, this loan can be used for a variety of business purposes, from purchasing new equipment to refinancing debt.
  • No security. This is an unsecured business loan, meaning that your business and personal assets don't have to be offered as security.
  • Loan terms. You can repay this loan over a period of 3 months to 1 year .
  • Loan amount. This loan is available from $5,000 up to a maximum of $60,000.
  • Easy repayments. Repayments are made monthly and are linked to your business's income schedule.
  • No hidden fees. All fees and charges are stated upfront.
  • Responsible lending. Trove Capital is a responsible lender, meaning that if your business can't afford to repay the loan, you won't be approved for the amount.

How much does the loan cost?

The fees and charges associated with this loan are set out in the loan agreement. What you pay is determined by your business profile and the amount you'd like to borrow. Interest rates start at 1.5% per month. No establishment fee is charged for setting up this loan.

How to apply for a Trove Capital business loan

You can apply for this loan online. To be eligible, the minimum trade length is six months. You will be asked to supply personal information as well as details about your business's finances. Trove Capital will evaluate your business's financial health with read-only access to bank statements dating back 90 to 180 days.

While approval is quick and you can have almost immediate access to funds, it is important to ensure that your business is in a position to repay the loan amount before signing any agreements. Make sure you research a range of loan options before choosing the one that is right for you.

Business lenders you can compare

Whilst we don't compare the Trove Capital Business Loan directly, use the table below to see how they compare against other loans.

Updated January 17th, 2019
Name Product Min. Loan Amount Max. Loan Amount Loan Term Application Fee
$5,000
$250,000
3 months 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.
$5,000
$500,000
3 months to 2 years
$0
Apply online for up to $500,000 and get access to over 25 lenders through Lending Express.
$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.
$5,000
$1,000,000
3 months 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.
$5,000
$250,000
6 months 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.
$10,000
$400,000
3 months to 2 years
$0
Benefit from a fixed interest rate and no upfront fees with a loan available up to $400,000. Must have been operating for at least 18 months and have turnover over $200,000.
$10,000
$500,000
6 months 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+
$5,000
$500,000
6 months 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.
$10,000
$250,000
6 months 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.

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