How does an unsecured business loan in Australia work?
An unsecured business loan in Australia works on the basis of a fixed term with daily or weekly repayments and is suitable for businesses with regular (daily/weekly/monthly) sales income. This loan can be used for any business requirement such as cash flow, inventory, renovating or expanding your business, upgrading equipment, paying suppliers and marketing. The average term is 6 months. This provides the customer with the opportunity to access further funds in the near future. There is no security tied to the loan such as collateral or property.
If you require $5,000 – $250,000 Loanbrite has made it easy to apply with:
• No Application fees
• No collateral required
• Payments based on cash flow
• Easy criteria
• Funding available within 3 days*
Do you meet the following?
• Trading for a minimum of 12 months
• $5,000 per month in revenue
What is the interest rate?
There is no interest rate, a factor rate is used. A factor rate includes all principal and interest payments and the total factor rate is disclosed to you along with how much the repayments will equate to.
*Subject to credit approval. Terms & Conditions apply, please contact Loanbrite for further details.