Don't let pesky cash flow gaps stop the momentum in your business. Be prepared upfront, whether you're placing bids or making business purchases.
With a fast application process and quick financing decisions, if approved, the money could be in your account within 24 hours of approval, helping you get on with business sooner.*
Fast. Easy. Efficient. Small Business Finance.
Approved applicants only. Business customers only.
Credit criteria, terms and conditions, fees and charges apply.
How fast will I get a financing decision?
If you apply for a business loan, most lenders will usually aim to provide you with a financing decision within either:
How soon will I receive approved funds in my bank account?
If you apply and your application is approved before 4 p.m. AEST on a business day, the lender will make every effort to deposit the approved funds into your nominated bank account overnight, and the approved funds should appear in your nominated bank account on the next business day depending on your bank.
How much money can I borrow for a business loan?
If your application is approved, the total loan limit will be determined by considering your application and various factors (including, for example, your documented ability to meet your repayment obligations and the health of your business - a variety of factors determine the health of your business).
Based on this information, if your application for a business loan is approved, you may be able to borrow a business loan amount of between AUD$5,000 and AUD$500,000. Generally, loan terms for approved business loans are from 3 months to 3 years.
What interest rate will apply to a business loan if approved?
If your application is approved, the amount of interest you will pay on your business loan will depend on the level of financial risk your business presents to the lender.
The interest rate - along with the total loan amount and loan term - will be assessed on a number of factors, including, but not limited to:
When you apply for a business loan, the lender will assess the risk profile of your business and if approved, provide you with a customised offer including your approved loan amount, loan term and the individual interest rate that applies.
What are the fees for approved business loans?
If you wish to take out an approved business loan, you will usually need to pay an origination fee for establishing the loan. This origination fee will generally be charged when your loan balance is finalised.
There may also be other fees and charges payable by you, such as fees and charges for late payments, loan servicing, loan guarantee and dishonour, which will be set out and detailed in your loan agreement and schedule. These fees vary between lenders. Lenders may at their discretion, from time to time, introduce new fees and charges and/or make changes to existing fees and charges in accordance with your loan agreement and schedule.
If you wish to take out an approved business loan, it’s important to always read the entire loan agreement and schedule before signing. If you are unsure, ask the lender what it means and/or seek independent professional (financial, legal and/or tax) advice.
Are any early repayment fees payable?
Some individuals may wish to make additional repayments or repay their approved loan early.
There may be additional fees and charges if you wish to make additional repayments and/or repay your business loan early. If you want the option to make additional repayments and/or pay-out your approved business loan early, it’s important to discuss this with the lender at the time of applying for a business loan.
How do loan repayments work?
If your application is approved, when finalising your business loan, the lender will usually discuss the most suitable payment schedule. There are a couple of repayment options available for approved loans, including:
Will my personal information be protected?
All information provided to Lend will be handled in accordance with . Lend is transparent about how Lend collects, uses, exchanges, and protects your information, which you are free to discover in . covers all the crucial information about how your data is handled when engaging with Lend, including your right to access and update your personal information, and how to make a complaint should you believe your information has been used unlawfully.
Is it safe to link my bank account to the Lend platform?
Lend uses industry-recognised encryption standards to provide high-level protection for all personal, sensitive and financial data submitted through Lend’s online portal.
To provide faster financing decisions and verification, Lend uses an advanced bank-verification system link to instantly verify your business bank account transaction data.
Do I qualify to apply for business finance?
You can apply for a Business Loan or Business Line of Credit funding if you:
*Terms and Conditions: Business customers only. Lend Capital Pty Ltd ABN 12 612 877 442 (Lend) helps to provide access to business loan products and also various lenders who use the Lend partner platform (Lenders). If you apply for a business loan via the Lend partner platform and if your application is approved, the Lender will be the lender that has approved your application for a business loan. All applications for credit are subject to credit approval criteria. Terms and conditions, fees and charges apply.
This information (a) is current as at 06/11/2019, (b) is subject to change, (c) is provided for general information only, (d) does not take into account your personal situation, and (e) does not constitute financial and/or tax advice. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from financial, legal and taxation advisers. The information has been prepared by Lend and GraysFinance, who do not warrant its accuracy. Although every effort has been made to verify the accuracy of the information, GraysFinance and Lend, and each of their officers, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy, or omission from the information or any loss or damage suffered by any person directly or indirectly through relying on this information.
As a referrer, GraysFinance Pty Ltd ACN 622 573 737 and Lend will receive a benefit if you choose to settle a business loan product via Lend.
© 2019 GraysFinance Pty Ltd is a subsidiary of Grays
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