Business Loans

We have a proud heritage of finding innovative ways of meeting our client's needs and securing finance at the best possible rates, terms and conditions. With a 'can do' attitude, we get to know your business so we can secure funding. 
Borrow between $2,000 - $100,000
Use funds again & again
Apply in minutes
Wide choice of commercial lenders
Choose from the many lenders we work with. 

We're here to help in every step

Business loans offer a lot of benefits for startups, small businesses and large companies.
You can borrow a significant amount of money for major business projects
You have full control of the money you borrow
You can easily access the funds
The interest rate is usually low
You will enjoy a tax deduction
You can increase your working capital
Your business credit will improve.
Choice
Borrow up to $300K with 10 minute application, fast decision and funding possible in 24 hours.
Support
Talk to real people. Business Lending Specialists who are focused on getting you what you need, sooner.
Confidence
Thousands of small businesses have borrowed from MortgageBiz so far.
You could benefit too.

Hassle-free business loans

MortgageBiz can find options from over 50 lenders, leaving you free to focus on your business. We can help you with finance solutions for almost anything you need to increase production and capacity.
Commercial 
vehicles
Drive your business ahead with new commercial vehicles with the latest standards.
Plant, equipment and machinery
Upgrading your plant, equipment and machinery will have a huge +ve impact.
Office equipment and technology
Upgrade to latest computers, security systems, firewalls, and network infrastructure.
Business premises
 fit-outs
Improve your business premises with fit-outs that are world-class in quality.

Our equipment finance offerings

Equipment finance can help you buy assets without depleting your cash flow. It's a common kind of financing for companies looking to improve their cash flow management. Vehicles, trucks, IT hardware, telecommunication systems, industrial gear, and other types of plants and assets are all examples of pricey equipment that can be purchased with this type of financing.
Hire Purchase
Hire purchase is ideal for a company that wishes to eventually own the assets outright.
learn more
Finance Leases
Allows a company to have access to the most up-to-date equipment without having to constantly pay money.
learn more
Equipment Loans
A fixed-rate loan backed by a mortgage on the asset. This structure has certain tax advantages
learn more

Frequently Asked Questions

Can’t find the answer? Reach out to our customer support team.
What is a business loan?

Businesses are expensive to start and run, and as such, they generally require a large amount of capital to pay for these expenses. To pay for this, businesses may take out a business loan. As with all loans, a business loan must be repaid-with interest.

A business loan can be used to pay for expenses that the business is unable to pay for itself at that particular time, such as:

  • Purchasing an office or storefront
  • Upgrading business equipment or IT software
  • Staff wages or advertising expenses during the early life of a business or startup

A business loan can be secured by the office or storefront property owned by the business (commercially secured business loan), or by the home the business owner lives in (residentially secured business loan).

Business loans charge interest rates in a slightly different way to other types of loans – they charge a risk margin based on how the lender views the business’s prospects for success.

How to compare business loans?

MortgageBiz can help you compare business loans using our website, which compares business loans with star ratings to represent the value a loan provides for businesses. Things to look for in a business loan include:

  • Fixed or variable interest rate
  • Split loan facility (part of the loan on a fixed interest rate and part on a variable rate)
  • Switch facility (ability to switch interest rate between fixed and variable)
  • The loan size you need
  • Ability to make additional repayments to pay off your loan faster
  • Redraw facility (ability to withdraw additional payments)
  • Ability to make lump sum repayments to pay off your loan faster
  • Portability (ability to keep the same business loan when you switch office or store locations)

 

Business overdrafts vs business loans

MortgageBiz researches and rates both business loans and business overdraft facilities. We recognise that business owners have different needs and wants when it comes to getting a loan or credit for their business.

A business overdraft is a line of credit that becomes available to a business when you make a withdrawal for a greater amount than the balance in your business transaction account. The bank then extends credit up to the maximum overdraft limit. Interest is charged on the fluctuating daily balance, and the overdraft balance does need to be repaid but there is no set timeframe to repay the debt.

This essentially means that a business can continue to make withdrawals when the account is empty, giving a large degree of flexibility in its cash-flow. This can be useful for paying employees or bills on time, even if your clients have not paid you yet.

As with a business loan, any debt on a business overdraft facility needs to be repaid, and interest is charged on the overdraft based on how much credit you’ve used within a certain period.

Business Loan Glossary Of Terms

Account balance: The amount of money you have in your account.

Business loan: A loan granted to fund a business and its proceedings.

Business overdraft: A line of credit that becomes available to a business when it makes a withdrawal for a greater amount than the balance in your business’s debit account.

Fixed interest rate: A fixed interest rate remains the same for the entire duration of the loan.

Loan balance: The amount of money left to be repaid on a business loan.

Loan term: The term of the loan usually refers to the length of time the borrower has to repay the loan. This is different from the loan terms and conditions, which are a full list of the lender’s conditions in agreeing to offer a loan, including the interest rate, fees and charges, and the loan term.

Risk margin: When setting the interest rates on a business loan, lenders apply a ‘risk margin’ based on how risky it is to lend to the business. Lenders consider factors including how successful the business is already, and its prospects for future success such as its location, customer base, ability to service debt, and the reason for borrowing.

Secured loan: A loan that is backed by ‘security’ (collateral) such as the property the business owns (commercially secured) or the home the business owner lives in (residentially secured).

Unsecured loan: A loan that is obtained without security (collateral).

Variable interest rate: A variable interest rate fluctuates over time based on the RBA cash rate and the lender’s business decisions.

Need some help?

Our experts will help you search, choose and settle your home loan online. Chat to one of our Home Loan Specialists at a time that suits you.
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