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An unsecured business loan is simply a personal loan tailored specifically for business use. An unsecured business loan is provided without the need of security or collateral to be held and can be used in the general everyday operation of your business.
Unsecured Business Loan terms can be tailored to meet your business needs and cash flow with short loan terms of 3 months through to longer terms of 5 years.
An unsecured business loan can be used for any worthwhile business purpose from paying invoices, advertising, stock, salaries, tax debt through to fitouts, line of credit and business overdraft. Unsecured Business Loans are available for (SME’s) Small and Medium Business Enterprises and do not require the same financial paperwork as traditional lenders.
To apply for a business personal loan, follow our easy online application. From there you may need to provide up to 6 months business bank statements showing business income.
Your business loan consultant will then be able to assess and deliver a suitable answer for you.
As there is no collateral / security needed for unsecured business loans and minimal paperwork is required, some lenders may charge a higher interest rate. Loan amounts for unsecured business loans are determined on your business bank statements and income shown.
As most lenders will request a minimum of 6 months bank statements showing business income, it’s advisable to have your business in operation for a minimum of 6 months.
If you have had a bad credit history, have a black mark on your credit file it can be difficult to gain funding for your business. However, we will work with you and lenders to establish your reasons behind the poor credit to build a strong case to help your loan application succeed.
To qualify for an unsecured business loan you need to be in business for a minimum of 6 months, have a turnover of $5000 per month and have fair credit history.
We help make unsecured business loans easy. Whatever your business requirements and whatever your financial situation, we’re on your side. Backed by national buying power, meaning we’re in the best position possible to negotiate better, more affordable finance rates for you.
We compare the available lenders and banks for you to find the best available outcome. Our system will check your loan throughout our panel of lenders without negatively affecting your credit rating to provide you transparency on your loan. We process thousands of loans each year, have in-depth knowledge of lender guidelines so we can present your loan correctly, giving you the best opportunity to get the right answer.
iCREDIT unsecured business loans are available throughout Australia, Melbourne, Sydney, Adelaide, Hobart, Darwin and Perth, Gold Coast, Palm Beach, Burleigh Heads, Tweed Heads, Brisbane, Ipswich, Sunshine Coast, and Queensland Today!
