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Business Loan - Unsecured

Purpose

Unsecured loans are specially structured for all types of business use. Generally, lenders will require the business to have traded for at least three years and may even consider borrowers with poor credit history.

Benefits

Opportunity to access funds quickly to grow market share, pay ATO debt posture, hire new staff, buy stock, implement digital media campaigns which may ultimately increase profitability and the capital value of the business. Because security is not required, business loans can be settled in less than seven days for amounts ranging from $25,000 upwards depending on needs, business type, most recent three months cash receipts, and business assets.

Security

Depending on the size of the loan and the lender may require security over the business and a personal guarantee. This means, if the borrower defaults in their repayments and cannot repay the amount owing the lender may compel them to sell the business to settle the debt in full and also call on any personal guarantees provided to support the loan.

Repayment terms

The borrower will be required to pay interest at a fixed or variable rate on the principal outstanding and any agreed upfront, ongoing and exit charges. Business loans are flexible and can be repaid over a short or long term. Short-term loans can be for 3 months to 2 years and long-term loans can be for many years.

Process

To be matched with an Unsecured Business Loan bidder, just follow our anonymous Business Loans/Unsecured listing process.