Questions

How do I apply?

We’ve made it easy and fast. Simply click the "Get Started" page and complete our online form. If you are unsure on anything, give us a call or send an email to loan@loanfinder.com.au and we can assist with your questions

 

Tell me about the Loanfinder Business Loans with no security?

Loanfinder can assist with an unsecured loan of between $5,000 to $500,000. The term of the loan can be between 3 months and 5 years and the cashflow friendly repayments are either daily, weekly or fortnightly.

 

How is the Loanfinder Business Loan different from a traditional business loan?

You can apply for the Loanfinder Business Loan in under ten minutes and receive a fast response - within 24 hours. Once approved, the funds can be provided the same business day.

 

How fast will I get a response?

Once you send an enquiry, a lender representative will contact you within 24 hours. Once they have the information, it will take 24 hours to get a decision.

They will discuss your requirements and ask you to provide last 6 months bank trading statements. Alternatively, you can authorise them to use an advanced bank verification system link to instantly verify your bank information online. They will also ask for a copy of your drivers licence. You can also email these items to loan@loanfinder.com.au

 

How fast will I get the money?

We know growing your business is important, so Loanfinder will work hard to get money to you as soon as possible.

Once your loan is approved and you have signed the documents, the funds will be in your account the same day.

 

How much can I borrow?

Depending on the lender, they will look at a variety of factors to determine the health of your business and based on this information, will determine how much you can borrow

If you have available equity in a property, or equipment then this may increase how much you can borrow. The total amount of your loan will depend on the specific circumstances of your business.

 

What are the fees?

We know fees can be confusing so we made it simple and transparent – the lender will advise the total fee structure applicable in your loan contract before you accept the loan.

 

What can the Loanfinder Business Loan be used for?

We’re totally committed to helping small businesses access the funds they need to grow.

Our fast flexible funding service can be used for business renovations, marketing, to purchase inventory, new equipment, general working capital and much more.

 

Is there any penalty for early repayment?

Most lenders will have no early repayment penalties, but if any payout fees are applicable, they are disclosed upfront

 

What is asset-based borrowing (a secured loan)?

Asset-based borrowing is when a business owner uses an asset they own to secure a loan. The asset can be either a personal asset like the family home, or a business asset like a truck or piece of equipment.

The vast majority of lenders, including the big banks, tend to secure loans against an asset. If you have trouble paying back the loan then your asset may be sold by the lender. In essence it’s a way of securing new financing by using the value of what you already have.

 

What is an unsecured loan?

An unsecured loan is when the health of a business is used to determine how much you can borrow, without the business owner needing to secure the loan by putting up an asset as security.

Larger banks tend not to offer these as the arduous paperwork, low returns and higher risks involved don’t make it worthwhile.

Many small business owners find themselves having to use an asset to secure a loan, or being declined.

Loanfinder allows you to borrow for your business to let it grow faster.

 

Can I get additional funding after the initial loan?

Yes you can. Once you see how easy it is to get finance for your business, you will come back. 70% of our previous customers come back for more funding.

 

What happens after I make a business loan enquiry with Loanfinder?

You will be contacted by a lender representative who will explain the business loans further and discuss your loan requirements.

They will explain the best options for your business and take an application if you wish to proceed. There is no cost for this and no obligation to proceed if you don't like the offer.