There are enough surprises with running a business – hidden fees and charges shouldn’t be one of them. We keep our business loans transparent so you know exactly what you’re paying. Our no-obligation application won’t impact your credit score.
No administration fees
We don’t charge an application or origination fee of any kind. And there’s no fee when you pay out your loan.
No direct debit fees
Some lenders will charge a fee for each payment. We don’t.
No early repayment fees
If you decide to pay your business loan out early we won’t charge any additional fees or extra interest.
Traditional bank lending options can be cumbersome and often require submitting financial statements. They require lengthy approval processes, have limited flexibility, and need assets as security. Sometimes these are personal assets, such as residential property.
Banks also tend to be risk-averse and will often require that businesses have several years of strong trading history before lending to them. This creates a challenge for small business owners looking to grow.
Small businesses often need quick access to funds and upfront capital to invest in various facets of their operations for business growth. In today’s fast-paced environment, a lack of cash can mean missing out on crucial opportunities. Traditional business finance in Australia isn’t structured to capitalise on short-term opportunities in a fast-moving marketplace.
A Moula unsecured business loan provides true flexibility, enabling you to use the funds for what your business really needs, without weeks of waiting.
With the certainty of consistent repayment options, you’re in complete control and you’re not required to use any of your assets as collateral for the loan.
If you operate a business that doesn’t own a significant asset, such as a property, then you’ll usually be locked out of secured business finance options. A Moula unsecured business loan provides freedom and flexibility to use the funds for what you really need. Money is lent to you against the current trading position of your business. This an ideal solution for service-based businesses seeking small business loans in Australia.
If you’re looking to make a quick move in the market – waiting for a secured loan may mean a missed opportunity. An unsecured business loan can be the ideal solution for businesses that are nimble or have identified a gap in the market requiring quick action. Your business can invest right now in growth opportunities with a short-term business loan.
Unsecured business finance from Moula is quick and smart. Moula enables businesses to maximise opportunities today. Gone are the days of having to go through lengthy application processes and jump through multiple hoops to get funding in Australia.
Did You Know
1 in 3 SME businesses in Australia are currently seeking funding $50,000 – $250,000 for their business
59% are seeking funding for capital and growth
2 out of 3 businesses don’t have the time to run their business the way they would like
46% of Australians are worried that declining property prices are affecting their ability to borrow
43% of customers are paying late
Why an Unsecured Business Loan might be what your business needs
Cash flow strains in your business are keeping you up at night
Your customers are paying late
You are turning away new business
You don’t want to put up your property as security for your business loan
You don’t have time to jump through the bank’s hoops
You need a loan to clear tax debt
Join the wave of small and medium business owners that are turning to alternative business lenders to provide the unsecured business loans they need to grow and sustain their business.
Possibly the easiest way to get finance for your Small Business
Business loans from $5,000 – $250,000
Fast application and decision
Loans are Unsecured
No hidden fees or early repayment penalties
Funding possible in 24 hours*
*Standard credit approval criteria and terms and conditions apply.
How Does It Work
There are two main types of Unsecured Business Loan facilities:
Business Term Loan
Business Line of Credit
Unsecured Business Term Loan
An Unsecured Business Term Loan is a loan of $10,000 to $400,000 with a term of 1 to 36 months.
There is a drawdown fee charged when you first access the loan amount. This is calculated as a percentage of the funds used and will be disclosed at the time of approval.
You then are charged interest on the funds you use, for the time until you pay them back.
Repayments are made daily or weekly as a direct debit from your business account. The amount of the payment is disclosed at the time of approval and includes the interest charged and the principal borrowed.
Business Line of Credit
A Line of Credit is traditionally a more flexible facility in that the Line of Credit amount is an approved limit that you can draw up to. You can draw down the amount that suits your business and have continuous access provided you stay under your approved limit.
There are some variations to the specific terms of a Line of Credit facility depending on the lender, so it is essential to understand how you can access the funds, and if you can have access to the limit ongoing of over a set period. Some Line Of Credit facilities still required regular weekly payments to be made.