Fast Business Loans
- New Business Welcome
- Flexible Repayment Available
- Bad Credit Considered
*Time frame refers to business hour, subject to scenario simplicity and borrower’s availability to respond.
Hear It From Our Customer
Absolutely fabulous service, went above and beyond to help me secure a loan, could not be happier.
Absolutely fabulous service, went above and beyond to help me secure a loan, could not be happier.
Absolutely fabulous service, went above and beyond to help me secure a loan, could not be happier.
Fund your future with a small business loan
No early repayment fees
If you want to repay early that's great. We'll never charge a fee for that. In fact, more than 20% of our customers repay ahead of schedule in their first six months.
Easy application
We've designed our application process to be as slick as possible: link your bank account and get going in minutes.
No hanging around
Once you're approved, we'll ping the money straight to your account. And if you need more later, you can apply for a top-up.
Applying won’t affect your credit score
On this page
Understand your finance
Even if you don’t prepare your own financial statements, it’s important to have a basic understanding of your finances.
Preparing a cash flow statement gives you a good snapshot of your money coming in and going out such as:
- current income
- net profit
- expenses
- current income
- expenses
3 Simple Steps
Complete our obligation-free application today, and expect a call from your Business Manager shortly
Provide some basic documents for the most suitable finance option.
Same-day fund transfer upon contract settlement
Applying won’t affect your credit score
How It Works
Our commitment to personalized service and expert support means you can focus on growing your business, not worrying about financing. With us, you’ll have the financial security and stability you need to achieve your goals and take your business to the next level.
- Quick and Easy online form
- Same-day decision possible
- Same-day funding possible
Fact Sheet
- Small scale businesses
- Plans to purchase existing businesses
- Newly purchased businesses
- Non Financed Motor Vehicle
- Real Estate Property with LVR under 80%
“Pre-Approval time applicable during office hour only and is subject to relevant document recipients and applicants availability for communication.
“Turnaround time is indicative only after signed loan contract is received. Fund transfer is subject to fund availability and settlement conditions satisfied.
Step 1: Decide what kind of loan you need
what kind of finance will work best for you. Broadly speaking, this means matching the finance type to the loan purpose. The two most common categories are:
If you need finance for a business vehicle, or some other equipment, you may be eligible for a secured business loan. This means the asset you're purchasing is used to secure the loan. The lender can sell the asset to recoup its costs if you can't repay the loan. A secured business loan is often referred to as a chattel mortgage.
If you need an injection of capital for a one-off expense or to plug a cashflow gap, you have a couple of options. First, you could consider a short-term unsecured business loan, usually allowing you to borrow up to $150,000. Or, you could apply for an ongoing line of credit for your business, meaning you can dip in and access funds when you need them (and only pay interest on what you draw down), without needing to reapply each time.
Smart Tip
If you need an injection of capital for a one-off expense or to plug a cashflow gap, you have a couple of options. First, you could consider a short-term unsecured business loan, usually allowing you to borrow up to $150,000. Or, you could apply for an ongoing line of credit for your business, meaning you can dip in and access funds when you need them (and only pay interest on what you draw down), without needing to reapply each time.
If you need finance for a business vehicle, or some other equipment, you may be eligible for a secured business loan. This means the asset you're purchasing is used to secure the loan. The lender can sell the asset to recoup its costs if you can't repay the loan. A secured business loan is often referred to as a chattel mortgage.
Pros & Cons of Business Loans
Understand the key advantages and disadvantages before applying.
Pros of Business Loans
- Access funds quickly to cover urgent expenses.
- Build or improve your business credit score.
- Flexible repayment terms depending on the loan type.
- Can fuel growth through expansion or equipment purchase
- Interest may be tax deductible for business use.
Cons of Business Loans
- Repayments add to monthly cash-flow pressure.
- May require personal guarantees or collateral.
- High interest rates for businesses with low credit scores.
- Missing repayments can damage your credit profile.
- Not all businesses will qualify.
Here's what some experts had to say
James Martin
Journalist
Our Expert Says
There’s a lot more to finding the right cover than simply looking for the cheapest deal. Ultimately, you get what you pay for with income protection. In my view, policies held in super are rarely worth it in the long run. Going directly to an insurer or a broker is the pathway to a more comprehensive policy.”
James Martin
Journalist
James Martin
Journalist
Our Expert Says
There’s a lot more to finding the right cover than simply looking for the cheapest deal. Ultimately, you get what you pay for with income protection. In my view, policies held in super are rarely worth it in the long run. Going directly to an insurer or a broker is the pathway to a more comprehensive policy.”
James Martin
Journalist
James Martin
Journalist
Our Expert Says
There’s a lot more to finding the right cover than simply looking for the cheapest deal. Ultimately, you get what you pay for with income protection. In my view, policies held in super are rarely worth it in the long run. Going directly to an insurer or a broker is the pathway to a more comprehensive policy.”
James Martin
Journalist
Business loan eligibility criteria
We aim to make our business loans accessible to a wide range of UK businesses. When you apply for an iwoca business loan, well consider:
1. Business status and structure:
Your business must be UK-based and operate as a limited company or a limited liability partnership. We do not currently lend to sole traders.
2. Trading history:
Although some lenders require businesses to have been trading for a minimum period, at iwoca we’re happy to consider a wide range of businesses, from new startups to established companies. However, for startup businesses (<6 months), our maximum initial credit limit is £10,000.
3. Financial health & performance:
We will look at your business’s financial track record. This includes assessing your revenue, profitability, and overall cash flow. We may also check for adverse financial history, such as defaults on previous debts or outstanding County Court Judgments (CCJs).
4. Creditworthiness:
The personal credit scores of your business’s directors or owners will be considered. However, at iwoca, your credit score isn’t the only thing we look at; we assess your business’s broader health and potential.
5. Loan purpose and affordability:
You’ll need to specify why you need the business loan and demonstrate that your business can comfortably manage the repayments over the loan term.
6. Age of applicant:
Directors or individuals applying on behalf of the business need to be at least 18 years old.
Pros & Cons of Business Loans
Loans
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Overdraft facility
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Line of credit
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Source
Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you’re getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
- 1. Moneysmart.gov.au: Income protection insurance
- 2. Moneysmart.gov.au: Total and permanent disability (TPD) insurance
- 3. Riskinfo article
- 4. TAL income protection insurance PDS (accessed April 2024)
- 5. AAMI income protection insurance PDS (accessed April 2024)
- 6. Nobleoak Disability Income Insurance PDS (accessed April 2024)
- 7. Medibank income protection insurance PDS (accessed April 2024)
- 8. ahm Income Protection insurance PDS (accessed April 2024)
- 9. Insuranceline Income Protection insurance PDS (accessed April 2024)
- 10. Finder Income Protection Insurance Awards 2023
Awards and Recognitions
achieved a Highly Recommended satisfaction rating from Australian Achievers 2025! Our customers love us!
Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards.
Gary Ross's expertise
Gary Ross has written 583 Finder guides across topics including:
- Health, home, life, car, pet and travel insurance
- Managing the cost of living
Not Sure Which Loan?
Not sure which loan product and features are best for you? Use our comparison table. Otherwise, reach out to us. We’re happy to help!